On February 13, 2008, the Canadian Accounting Standards Board (AcSB) confirmed January 1, 2011 as the changeover date to replace Canadian Generally Accepted Accounting Principles (GAAP) with International Financial Reporting Standards (IFRS) for all Canadian Publicly Accountable Enterprises (PAEs).
The Canadian Institute of Chartered Accountants (CICA) has prepared “The CICA’s Guide to IFRS in Canada“ on the upcoming changes, which includes a comparison of the current CICA Handbook standards (at March 31, 2007) with the comparable IFRS standards. This guide highlights the key differences and notes any work in process that may affect the standard in the future.
Download The CICA’s Guide to IFRS in Canada¹.
To learn more about the implications of the new standards to your business, contact one of our IFRS professionals.