The Ontario Securities Commission (OSC) will host a webinar for small and medium enterprises (SMEs) on disclosing and reporting on the effects of the COVID-19 pandemic. The session is being offered as part of the OSC SME Institute, which helps SMEs understand and navigate the requirements of being a public company in Ontario.
“We know that physical distancing and other measures put in place to help prevent transmission of the virus have affected economic activity,” said Sonny Randhawa, the organization’s director of corporate finance. “In many cases, this has had a significant negative impact on issuers’ operations, financial condition, cash flows and financial performance.”
According to an OSC release, the webinar is an opportunity for issuers and their advisors to hear directly from staff on considerations and high-level guidance for disclosing the effects of the COVID-19 pandemic. Participants that are registered will also be able to interact with staff during the Q&A portion of the webinar.
Key topics covered will include:
- Liquidity and capital resources
- Forward-looking information
- Significant judgements and estimation uncertainty
- Impairment considerations for non-financial assets
- Non-GAAP financial measures
- Risk factor disclosure
- Material change reporting
The webinar is scheduled for May 6 at 2 p.m. EST. For more details and to register, visit the SME Institute calendar on the OSC website. For questions related to course content, contact SMEInstitute@osc.gov.on.ca.
An archived replay of the webinar will be available on the OSC’s website and YouTube channel. The OSC SME Institute informs SMEs on avoiding common deficiencies and gives SMEs the opportunity to hear first-hand from OSC Staff on the latest issues that have an impact on their markets.