C-26, r. 28 - Code of ethics of certified management accountants

Section 34.1 Disposition versions

2012-09-01

34.1. For the purposes of sections 34.2 to 34.9,

“affiliate” means a company that has control over the client, or over which the client has control, or which is under common control with the client, including the client’s parent company or one of its subsidiaries;

“engagement period” means the period that starts on the date when the member or the partnership commits to perform the engagement and ends on the date when the resulting report is issued. For an engagement of a recurring nature, the period ends:

(1)  in the case of an audit or review engagement referred to in section 34.6, on the date of notification by the client, the member or the partnership within which the member practises his profession that the professional relationship has terminated or on the date the final assurance report is issued, whichever is later;

(2)  in the case of an audit engagement referred to in section 34.7, on the date when the listed enterprise, the member or the partnership within which the member practises his profession notifies the securities regulator that the listed enterprise is no longer an audit client of the partnership within which the member practises his profession;

“engagement team” means all persons within the partnership participating in the engagement, who provide quality control for the engagement and all other persons within the partnership who are in a position to directly influence the outcome of the engagement;

“financial interest” means a security within the meaning of the Securities Act (chapterV-1.1), a share, including the option to purchase such security or such share and their derivatives or any other debt instruments;

“listed enterprise” means an enterprise whose shares, debt or other securities are quoted or listed on a stock exchange recognized by a Canadian or foreign securities regulator or that is subject to the standards established by such stock exchange, and that has market capitalization or total assets of $10,000,000 or more;

“network partnership or joint-stock company” means a partnership or joint-stock company that is, or can be perceived as being, under common control, ownership or management with the partnership within which the member practises his profession;

“related entity” means an enterprise that exercises control over another enterprise within the meaning of Section 3840 of the Canadian Institute of Chartered Accountants Handbook.

O.C. 406-2010, s. 3.