Issuer Toolkit

Non-GAAP Financial Measures Disclosure Information

In May 2021, the CSA published disclosure requirements for issuers that disclose non-GAAP (generally accepted accounting principles) and other financial measures on a voluntary basis. The rule improves the quality of information provided to investors for various financial measures that commonly lack standardized meaning. 

The ASC’s Office of the Chief Accountant has monitored inquiries that have been submitted since  National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure (NI 52-112) was published. Resulting from these inquiries, we have identified three key areas where issuers and their advisors have raised numerous questions.

To provide easy-to-access information, we are addressing these areas through three vignette webinars that provide a deeper dive into NI 52-112 application, scope, and disclosures on:

  1. Non-GAAP financial measures definition and non-GAAP ratio frequently asked questions (FAQs),
  2. Total of segments measure FAQs, and
  3. Common disclosure FAQs.

Each vignette webinar, roughly 15 min in length, is provided below. 

If you have any ideas for additional vignettes that would be helpful, or you have questions on some specific areas in NI 52-112 that we have not covered, please contact:


Non-GAAP financial measures definition and non-GAAP ratio FAQs

Total of segments measure FAQs

Common disclosure FAQs