Reminder – Additional Disclosures for Financial Statements

As you are aware, plan administrators must file annual financial statements for the pension plan or pension fund in accordance with section 76 of Regulation 909. If the plan has $3 million or more in assets as at the plan’s fiscal year end, an auditor’s report must also be filed in respect of the financial statements.

 

As a result of the 2010 amendments to the accounting standards, FSCO wishes to remind plan administrators that there may be additional disclosures that must accompany financial statements. These additional disclosures will vary depending on the size of the pension plan.
 
Some of these additional disclosures may be included in other statements instead of financial statements, as long as they are incorporated by reference in the financial statements.
 
In cases where an auditor cannot express an audit opinion with respect to these additional disclosure items, FSCO is allowing certain disclosures to be included under an Additional Disclosure Document. These Additional Disclosure Documents do not form part of the financial statements (i.e. it should not be a schedule to the financial statements or incorporated by reference).  However, plan administrators must ensure that they are filed with the financial statements.
 
For further information, plan administrators should contact their accountant or auditor. The additional disclosures are explained in FSGN-100 (Disclosure Expectations for Financial Statements Filed Pursuant to Regulation 909 s. 76) [PDF Document] Size: ## kb  and FAQs for Financial Statements.

 
Follow FSCO on social media  

Outage  Scheduled Online Service Disruption Notice
Please consult our outage schedule for more details.