Financial Reporting Release, January 2013

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This issue begins by considering the state of long-standing joint efforts by the IASB and FASB to improve and converge IFRS and US GAAP. Fundamental projects – revenue, leases, loan measurement, loan impairment, and insurance – remain undone. Are the Boards getting any closer to striking pay dirt? Will the new standards be hitting your financial statements any time soon? We reveal all in the following pages.

Canadian investment entities and rate regulated enterprises must begin getting ready as they start shifting their focus towards IFRS.

In addition, Canada has begun to examine ways to improve audit quality. We review their proposals and how they stack up to what rest of the world is thinking.

Specific topics in this issue include:

  • The future of global GAAP convergence
  • Towards a single global GAAP
  • IFRS – the way forward, Part 1
  • IFRS – the way forward, Part 2
  • IFRS in Canada, Part 1
  • IFRS in Canada, Part 2
  • Hedge accounting
  • Depreciation
  • Disclosure effectiveness
  • Enhancing audit quality

Download the full report to learn more.