Differences between private company GAAP and IFRS may present challenges in accessing equity and debt financing
Paul Cherry, Accounting Standards Board (AcSB) chairman, has been appointed chairman of the International Accounting Standards Board’s Standards Advisory Council (SAC), effective Jan. 1, 2009, for a three-year term.“Paul’s appointment recognizes his exceptional talents and contributions to international accounting standards over many years,” said Doug Hyndman, chairman of Canada’s Accounting Standards Oversight Council, in a […]
Summit aimed at helping companies prepare
Course aims to steer individuals, companies through transition process
Canada’s Accounting Standards Oversight Council (AcSOC) has expressed full support for the ongoing efforts of the International Accounting Standards Board (IASB) to develop a globally accepted set of high quality financial reporting standards.At its recent meeting in Montreal, the AcSOC reviewed developments to improve financial reporting in light of the current global financial turmoil.AcSOC members […]
Progress reports on preparations for the change are required by April 2009
The Office of the Superintendent of Financial Institutions has issued a letter to federally regulated financial institutions regarding their progress to the transition to International Financial Reporting Standards (IFRS).In the letter, OSFI notes that all federally regulated financial institutions will be required to submit semi-annual reports detailing the progress being made to the move to […]
In some cases, it will be only a one-year blip; in others, it could have a more profound effect on bonuses
Regulators considering whether all registrants should be required by securities rules to use IFRS
Regulators prepared to recommend exemptive relief on a case by case basis