Notifiable Transactions Regulations

3 Audited financial statements shall

• (a) be prepared in accordance with accounting principles that are normally used by the person with respect to whom the statements were prepared and that are generally accepted for the type of business carried on by the person; and

• (b) include working papers and other records used to prepare audited financial statements if reference to the working papers and other records is necessary to obtain information required for making a determination, pursuant to sections 81* [109] and 82* [110] of the Act, of the aggregate value of assets or the gross revenues from sales.

  • ^*Nota: References to the Act: R.S., c. C-23 [R.S., 1985, c. C-34].