As the first wave of filings are completed under IFRS, we have noted a number of key learnings and significant revisions to policies that have changed the way Canadian energy companies are reporting their financials. Many companies were able to make the transition without major impact on their day-to-day accounting; however, more changes have been forecasted which may impact your business. PwC has responded by bringing you the research and insight you need in order to set the best path for your business.
Putting IFRS in Motion: Benchmarking Financial Reporting in Canada’s Energy Industry is the result of an in-depth study of the publicly available data filed on SEDAR (System for Electronic Document Analysis and Retrieval). The overall population of companies for our survey was based on the list of companies in our 2011 Canadian Annual Energy Survey. Our findings have been compiled into a summarized format to provide you with a high-level understanding of the decisions made throughout the industry.