On July 5, 2011 the OSC's Corporate Finance Branch followed up the publication of their IFRS Release No. 2 on first IFRS interim financial reports with IFRS Release No. 3 — IFRS interim financial reports — Tips for Q2 and Q3.
IFRS Release No. 3:
In addition, the Release includes new "tip sheets" that list the key elements that are required in IFRS interim financial reports for second quarter in the year of adoption of IFRS. The tip sheets can assist issuers in checking for key elements to lessen the possibility of a restatement and should complement other technical guidance an issuer uses to ensure its second quarter IFRS interim financial reports comply with IFRS and securities requirements. Separate Q2 tip sheets are also available for issuers with March 31, June 30, or September 30 year-ends.
|December 31||IFRS Release No. 3 and Q2 Tip Sheet December 31|
|March 31||Q2 Tip Sheet March 31|
|June 30||Q2 Tip Sheet June 30|
|September 30||Q2 Tip Sheet September 30|
More information on presentation and disclosure considerations for preparing second and third quarter IFRS interim financial statements can be found in our publication First-Time Interim Reporting Under IFRS – After Q1 which addresses frequently asked questions that have arisen in connection with these interim financial statements.