Extractive Sector Transparency Measures Act

The Extractive Sector Transparency Measures Act, or ESTMA, introduces new and complex reporting requirements for oil and gas, and mining organizations engaged in commercial development in Canada and abroad.

To achieve full compliance, early preparation is crucial to ensure the effective design of rigorous controls and processes to capture payments as they occur.

How we can help

We combine PwC’s proprietary data solution, ESTMA experience and market leadership to provide our clients with a comprehensive end-to-end solution, easing the burden of ESTMA reporting and making sure management is confident in its filing.

Explore the insights below from our ESTMA experts. Check back often, we’ll keep you informed of key updates and next steps.

Need more in depth information and assistance? Don’t hesitate to contact us.

Your local PwC professionals in the oil and gas, and mining industries are eager to assist you by applying our hands-on experience working with government bodies around the globe. We can assist you in reviewing the guidance, assessing year one reporting (including potential re-filing) and preparing for year two reporting.

80% of ESTMA filers have one or more deficiencies

80% of the ESTMA reports posted by Natural Resources Canada (NRCan) as of June 30, 2017 appear to have at least one deficiency. NRCan has posted these reports on its website, but companies should note that these reports are still subject to review.

December 2017

Many reporting entities’ reports have now been posted on Natural Resources Canada’s (NRCan’s) website, and concerns over inaccurate and incomplete filings have been noted.

To prepare for the second year of reporting, organizations need to reassess their first-year filings for errors and omissions based on the updated guidance and new information provided by NRCan. The Regulator has provided its observations for improvement and insight into its objectives on enforcement, including fines and penalties.

Key updates

  • NRCan has issued a Validation Checklist to clarify and reiterate certain ESTMA filing errors, issues and requirements
  • Updated guidance through the ESTMA FAQs, including an overview on NRCan’s approach to compliance verification 
  • Beginning June 1, 2017, ESTMA reporting requirements also apply to payments made to Aboriginal groups in Canada

Next steps

  • Evaluate your year one ESTMA report vs updated NRCan guidance
  • Quantify and restate year one due to identified deficiencies 
  • Discuss the new guidance with your audit committee
  • Plan for year two ESTMA reporting by updating policies and judgements for deficiencies noted in year one filings, NRCan’s latest FAQs and new rules for reporting payments made to Aboriginals
  • Assess data readiness for changes to your business

PwC has developed the ESTMA Hub, a proprietary tool that helps companies to streamline reporting by providing a report format summary of a company’s payments.

Using the company’s General Ledger and Accounts Payable information as the starting point, as well as a company’s mapping of legal entities, payment categories, projects and vendors, ESTMA Hub provides a report in Microsoft Excel which can be used as the basis for a company’s ESTMA reporting.

Key features

  • Links the accounting system and the payment categories per the ESTMA Act

  • Links to payees and projects

  • A streamlined approach to ESTMA reporting that reduces internal time commitment and increases accuracy and auditability

  • Seamless conversion of accrual-based financial information to cash and gross basis (including for joint ventures)

  • The ability to review and challenge your results using interactive geospatial visualizations

  • Systematic identification of payments to Aboriginal groups where you operate

  • Timely and secure cloud-based access to your data and reporting

  • Flexible and easy to use

  • Cost effective and automated

  • Data validation functionality to assist in completeness of reporting

Our ESTMA webinars are led by technical experts from across PwC’s national mining and oil & gas practices and tackles core issues such as:

  • Overview of the legislation, including timelines and deadlines
  • Canadian industry and focus group discussions
  • Attestation requirement
  • Identification of government bodies, both in Canada and abroad
  • Key challenges and considerations

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April 9, 2015



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September 24, 2015



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Contact us

David Whiteley

ESTMA National Leader; Partner, Accounting Advisory Services

Tel: +1 403 509 6653

Mark Platt

Partner, Assurance

Tel: +1 604 806 7093

Jacques Radder

Senior Manager, Accounting Advisory Services

Tel: +1 403 509 7517

Chris Grimes-Goard

Manager, Accounting Advisory Services

Tel: +1 403 509 6679

Frédéric Lepage

Partner, Assurance

Tel: +1 514 205 5183

Mariano Ortego

Partner, Assurance

Tel: +1 416 941 8247

Sergey Romanov

Director, Data Assurance and Analytics

Tel: +1 416 869 2416

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