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Non-GAAP Earnings Measures: Guidance From Securities Regulators


Area Corporate Finance and Securities


In light of the fact that it has become a common practice for companies to publish earnings determined in manners other than as prescribed by Generally Accepted Accounting Principles (“GAAP”), staff of the Canadian Securities Administrators recently issued a Staff Notice intended to provide guidance on the issue of reporting non-GAAP earnings measures. It is clear that financial reporting issues are receiving increased attention from securities regulators and market participants given recent high profile cases with reporting problems.

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