Financial Compliance: NI 52-109 and COSO 2013

Financial Compliance: NI 52-109 and COSO 2013 - Issues Central

Is your company declaring an expired COSO Framework for your NI 52-109 CEO/CFO Certifications?

  • Internal Control – Integrated Framework (1992) has expired as of December 15, 2014. COSO Frameworks are declared by 98% of the market.
    • As of May 2015, 69% of the Canadian TSX was declaring an expired COSO Framework.
  • For your 2015 NI 52-109 CEO/CFO Quarterly and Annual Certifications, your company should be declaring Internal Control – Integrated Framework (2013) or COSO 2013. Find out more about upcoming briefings.

Investor confidence is a critical concern for boards. Securities legislation requiring CEO and CFO certifications of effective internal controls over financial reporting, plus new accounting standards (IFRS) with enhanced disclosures, is putting pressure on boards and management team to strengthen financial compliance activities. Staying up to date is an important test of a board’s quality and competence.

The personnel at Issues Central, Inc. are experts in the design, implementation and validation of effective internal controls using COSO 2013 and best practices in financial disclosure. We have been helping public company CEOs and CFOs since the legislation was implemented, first in the US in 2002 and in Canada since 2008.

We advise board members and senior officers of Canada’s public companies on best practices in implementation of Risk Management and Internal Controls to have reasonable assurance of compliance with key Canadian securities regulations. We make sure our clients are up to date with the latest trends and requirements in today’s rapidly changing environment.

We provide consulting services, workshops and briefings in these areas of expertise:

    • NI 52-109 & COSO 2013 – Implementation and validation of effective compliance with NI 52-109 Certification of Issuer’s Interim and Annual Filings and Disclosures (TSX based entities). Strategies for cost-effective COSO 2013 compliance to assist Canadian and U.S. entities in the implementation of the new Internal Controls Framework from the Committee of Sponsoring Organizations (COSO). This framework is mentioned as a controls standard in the NI 52-109 and SOX 404 compliance.
        • To learn more about our COSO 2013 Conversion and Implementation Services, Click here.
        • To find out more about The New COSO 2013 Internal Control Framework and the Impact on Sarbanes-Oxley (SOX 404) and NI 52-109 CEO/CFO Certification Compliance – What Boards and Senior Officers Need to Know on July 22,2015.
      • SOX 404 and COSO 2013– Implementation and validation of effective compliance with the Sarbanes-Oxley Act of 2002 with a particular emphasis on “SOX 404” requirements (U.S. exchange based entities).
      • Controls Validation & Testing under COSO 2013– Third-party validation and testing of controls to determine if they are present and functioning properly for NI 52-109 and SOX404 purposes with new COSO 2013 requirements.
        • To learn more about our COSO 2013 Conversion and Implementation Services, Click here.

Acrobat PDF Download our Financial Compliance – COSO Brochure