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The Transition to IFRS: The Past Need Not Be the Future

Reprinted from the 2007-02 issue of Canadian Audit Committee Update, this article discusses how audit committee members should begin to discern the potential impact that the changeover to IFRS will have on current financial reporting. Audit committee members will want to understand some of the general similarities and differences between Canadian GAAP and IFRS and the accounting policy choices available on changeover, including the elective exemptions on first-time adoption of IFRS.

Read the Audit Committee Institute publication The Transition to IFRS: The Past Need Not Be the Future

File Name: TransitionIFRS_Pastnotfuture_4PG_WEB.pdf  File Size: 88kb

To download: Right-click the link and select "Save Target As..." (PC) or control-click and select "Download Link to Disk" (Mac). Adobe Reader is required to read the PDF.

What's New

New: Sharpening your focus: Overseeing IFRS conversion through 2010 (02/2010)

New: Canadian Audit Committee Update (11/2009)

New: Accountability e-Lert – CSA proposes IFRS–related changes to securities rules (10/2009)

New: Managing the Transition to IFRS – Positioning for success (09/2009)

Overseeing IFRS Transition – Implications for CEO/CFO control certifications (04/2009)

IFRS compared to Canadian GAAP: Second Edition 2008/9

IFRS Transition—What Audit Committees Should Be Asking (06/2008)

Shaping the Canadian Audit Committee Agenda

Governance of Tax

Accountability e-Lert Newsletter – Recent issues and complimentary subscriptions

International Edition of the Audit Committee Institute's Audit Committee Insights
A complimentary biweekly e-mail alert covering issues and topics of interest to audit committee members, corporate officers or anyone concerned with financial reporting oversight in a global context.

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