Changeover to IFRS
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Changeover to IFRS 

Canadian Generally Accepted Accounting Principles (Canadian GAAP) for public enterprises have transitioned to International Financial Reporting Standards (IFRS) beginning January 1, 2011.  IFRS will apply to most Canadian publicly accountable enterprises for financial years beginning on or after January 1, 2011.

The Canadian Securities Administrators amended securities legislation to reflect Canada’s changeover to IFRS.  In addition, the ASC published IFRS related staff notices in the period leading up to the changeover to IFRS. These notices provide guidance relating to the changeover and its effect on an issuer’s regulatory filings.

The following information can assist issuers and investors in assessing how the changeover affects their financial disclosure:

  1. View filing deadlines for initial interim filings in year of adopting IFRS.

  2. View rules and policies that have been substantially amended as a result of the changeover to IFRS.

  3. View additional guidance for issuers filing an Initial Public Offering during their year of transition to IFRS.  
      
  4. View continuous disclosure guidance.

  5. Are you an investor or an analyst?  If so, the Canadian Institute of Chartered Accountants (CICA) developed some helpful guidance material on IFRS specifically addressed to investors and analysts.

  6. Are you in the oil and gas industry?  If so, the CICA developed some helpful guidance material on IFRS specifically addressed to the oil and gas industry.

  7. Are you a board/audit committee member?  If so, the CICA developed some specific IFRS guidance material that applies to you and your role.

  8. View additional guidance on the statements and reconciliations required in: