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Revised – Framework for Reporting Performance Measures

December 2, 2021 News, Resource, Guidance

Since the launch of our Framework for Reporting Performance Measures in December 2018, the world has witnessed significant change. With increased activity and momentum around sustainability reporting, disclosure of performance measures including non-financial and operational measures is more relevant today than ever.

In May 2021, the Canadian Securities Administrators published a new National Instrument 52-112, “Non-GAAP and Other Financial Measures Disclosure, Companion Policy and Related Consequential Amendments” (NI 52-112). NI 52-112 sets out new requirements for reporting issuers in Canada regarding the disclosure of non-GAAP financial measures, non-GAAP ratios and other financial measures.

To help you prepare for year-end reporting while navigating these changes, we have revised our Framework for Reporting Performance Measures.

This is a pdf of the Framework for Reporting Performance Measures - Revised First Edition

Download here.

Voluntary Guidance for Enhanced Decision Making

An entity’s ability to raise funds, perform and maintain its reputation can be at risk when performance measures reported, or key performance indicators, are not of quality.

Our Framework for Reporting Performance Measures, Revised First Edition, [November] 2021, will continue to help entities – public to private companies, not-for-profits, and pension plans – improve the quality of financial and non-financial performance measures they report outside of the financial statements.

Entities can use our revised Framework to establish robust policies and procedures surrounding the development of performance measures through:

  • selecting, developing, and reporting performance measures; and
  • implementing and maintaining controls and governance practices.

Additional Resources

Next Steps

The AcSB will:

  • continue to review and revise the Framework as needed, based on feedback and developments in practice and regulatory requirements;
  • continue to interact with groups and associations interested in leveraging the Framework; and
  • provide additional resources as needed.

Staff Contact(s)

Katharine Christopoulos, CPA, CA Director, Accounting Standards Board