Extractive Sector Transparency Measures Act

The purpose of the Technical Reporting Specifications is to provide the form and manner specifications for the reporting process, including instructions on how to complete the reporting template, and specifications on other aspects of the form and manner of reporting under the authority set out in sections 9(5) and 12(2)(a) of the Act. [...] As a companion to this document, the Guidance has been developed to help Reporting Entities understand the reporting requirements of the Act, and can be found on the Government of Canada website. [...] If a Reporting Entity has made payments in currencies other than Canadian dollars or its reporting currency, it may choose to calculate the currency conversion between the currency in which the payment was made and Canadian dollars or the reporting currency, as applicable, in one of three ways: By converting the payments at the exchange rate existing at the time the payment is made. [...] That is, the auditor has not identified the need to modify the audit opinion because of a material misstatement of the information in the annual report or because the auditor is unable to obtain sufficient appropriate audit evidence to conclude that the annual report is free from a material misstatement. [...] For the purposes of conducting the audit: The applicable financial reporting framework for reporting is considered to be a special purpose framework The framework is a compliance framework because it requires compliance with the specific requirements of the Act.