With Canada’s 2011 adoption of the International Financial Reporting Standards approaching, a new online course from the Chartered Accountants of Canada aims to help both accountants and the broader business community make a seamless transition to the new rules.

“The e-learning course is a primer, providing CAs and others with a basic introduction to IFRS and the implications to Canadian business,” said Frank Colantonio, director of continuing education with the Canadian Institute of Chartered Accountants.

“For those who need to develop further expertise, it provides a foundation that will allow them to self-assess and seek additional knowledge and skills required to meet the demands of their
jobs.”

The e-learning course is available free of charge in Canada and Bermuda, in both English and French. It takes roughly three hours to complete, and individuals can complete it at their own pace.

“The time to learn about IFRS is now,” said Tim Forristal, vice-president of education with the CICA. “Canada is about to move onto the same financial reporting playing field as more than 100 other countries. Be prepared for what lies ahead.”

The course is available through a dedicated IFRS website launched by the CICA (www.cica.ca/IFRS). The site also offers other resources to steer companies and individuals through the transition process, including information about other courses available across Canada, reference materials, publications and implementation tools such as sample financial statements.

“The clock is ticking and challenges lie ahead but help and support will be at hand throughout the entire IFRS transition process,” said Forristal.