Accounting Standards for Private Enterprises (ASPE) or IFRS?

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An important choice to be made by private companies

The Canadian Accounting Standards Board (AcSB) has released the new set of standards that will apply to private enterprises (Accounting Standards for Private Enterprises, or ASPE). Canadian publicly accountable enterprises will be required to use International Financial Reporting Standards (IFRS) for fiscal years beginning January 1, 2011. What about Canadian private enterprises?

Tune in to the Strategy Talks podcast: Private Enterprise FAQ

Sal Bianco, a partner in the Audit and Assurance group of PwC, recorded the podcast in 2010. He talks about the frequently asked questions on the adoption of GAAP for private enterprises - now known as Accounting Standards for Private Enterprises (ASPE). This podcast is a feature episode in the Strategy Talks series.

Go to the podcast to listen now.

Private enterprises will have an option to adopt one of the two following sets of standards:

  • International Financial Reporting Standards (IFRS)
  • Accounting Standards for Private Enterprises (ASPE)

Three PwC brochures are available to help you with this choice:

Accounting Standards for Private Enterprises (ASPE) FAQ
Frequently Asked Questions on the Adoption of ASPE
For any private enterprise there are changes ahead. The Accounting Standards Board has released a set of standards that will apply to private enterprises. This publication document highlights some frequently asked questions (and answers) that many private entities are wondering about right now.

Accounting Standards for Private Enterprises (ASPE) or IFRS? Canadian private enterprises will soon need to make the choice
There are many factors that a private enterprise should consider before making a final decision as to which set of standards is best for them. This document takes a closer look at the two reporting standards, including highlights of each, as well as advantages and disadvantages, to assist private enterprises in making this important decision.

"GAAP or IFRS?: An important choice to be made by private companies"
This publication discusses the impact of this choice on financial reporting for Canadian private companies and provides an overview of some of the issues that private companies need to consider when choosing between Canadian GAAP for private enterprises and IFRS.
 

1.30 MB Frequently Asked Questions on the Adoption of ASPE (221 KB)
Download the full PDF brochure.
1.30 MB ASPE or IFRS? Canadian private enterprises will soon need to make the choice (175 KB)
Download the full PDF brochure.
1.30 MB Canadian GAAP or IFRS? An important choice to be made by private companies (205 KB)
Download the full PDF brochure.