International Financial Reporting Standards
IFRS Briefings

IFRS Briefings are KPMG's way of keeping our clients informed about IFRS news and developments occurring internationally and in Canada. These publications provide commentary on how IFRS will affect Canadian publicly accountable enterprises. To subscribe click here

IFRS Briefing, Issue 2010-01 (January 21, 2010)

• Exposure Draft: Measurement of Liabilities in IAS 37
• AcSB financial reporting commentary: Interim financial statements in the year of adoption of IFRSs
• First Impressions: IFRS 9 Financial Instruments
• Focus of Financial Reporting – 2009 Annual Update

IFRS Briefing, Issue 2009-12 (December 22, 2009)

• New Standard: IFRS 9 Financial Instruments
• Exposure Draft: Financial Instruments: Amortised Cost and Impairment
• New on the Horizon: ED/2009/12 Financial Instruments: Amortised Cost and Impairment
• New Amendment: IAS 24 Related Party Disclosures
• Accounting for production stripping costs added to the IFRIC agenda
• IASB meetings and joint FASB meeting discusses various projects

IFRS Briefing, Issue 2009-11 (November 23, 2009)

• IASB and FASB reaffirmation establishes stable platform for Canadian adoption of IFRS
• Joint statement: FASB and IASB Reaffirm Commitment to Memorandum of Understanding
• IFRS Briefing Sheet – IASB’s Projects Overview
• Which IFRSs are expected to apply for Canadian changeover in 2011?

IFRS Briefing, Issue 2009-10 (October 26, 2009)

• CSA proposes 30-day extension to Q1 2011 filings
• AcSB issues third and final omnibus Exposure Draft
• Exposure Draft: Improvements to IFRSs
• IASB meetings discuss various projects
• Managing the Transition to IFRS: Positioning for success
• IFRS Readiness Survey Results: Part 2

IFRS Briefing, Issue 2009-09 (August 13, 2009)

• New Amendments: IFRS 1 Additional Exemptions
• Exposure Draft: Rate-regulated Activities
• Next Annual Improvements Project may further amend IFRS 1

IFRS Briefing, Issue 2009-08 (August 5, 2009)

• Exposure Draft: Financial Instruments: Classification and Measurement
• Exposure Draft: Fair Value Measurement
• Discussion Paper: Credit Risk in Liability Measurement
• IASB meetings discuss final standards and exposure drafts expected by end of year
• Is it time to accelerate your IFRS conversion project?

IFRS Briefing, Issue 2009-07 (June 24, 2009)

• IFRS Readiness Survey Results
• New Amendments: Annual Improvement Project 2009
• IASB discusses amendments to IFRS 1

IFRS Briefing, Issue 2009-06 (June 15, 2009)

• IASB Exposure Draft on Income Tax

IFRS Briefing, Issue 2009-05 (May 22, 2009)

• CSA updates views on possible changes to securities regulations

IFRS Briefing, Issue 2009-04 (May 11, 2009)

• IASB and FASB discuss simplifying financial instruments accounting
• Discussion Paper: Leases
• Exposure Draft: Derecognition

IFRS Briefing, Issue 2009-03 (April 2, 2009)

• AcSB issues second omnibus Exposure Draft
• PSAB issues Invitation to Comment on application of IFRS
• New Amendment: Disclosures about Financial Instruments

IFRS Briefing, Issue 2009-02 (February 24, 2009)

• IASB revises its timetable on new standards and major projects
• New Interpretation: Transfers of Assets from Customers
• Managing the Transition to IFRS: Moving forward

IFRS Briefing, Issue 2009-01 (January 29, 2009)

• How are you progressing towards IFRS changeover?
• Exposure Draft: Consolidation of Financial Statements
• Discussion Paper: Preliminary Views on Revenue Recognition in Contracts with Customers
• December meeting adds rate-regulated accounting to agenda
• Re-exposure Draft: Relationships with the State

IFRS Briefing, Issue 2008-07 (December 19, 2008)

• IFRS Conversion Considerations for CFOs
• New Interpretation: Distributions of Non-cash Assets to Owners
• IASB and FASB address global financial crisis at international roundtables
• IFRS compared to Canadian GAAP: An overview (Second edition 2008/9)

IFRS Briefing, Issue 2008-06 (November 28, 2008)

• IFRS disclosures in MD&A: New CICA guidance
• IFRIC activities: Rejection of rate-regulated accounting interpretation
• Exposure Draft: Disclosures about Financial Instruments
• IASB and FASB discuss credit crisis and joint projects
• Discussion paper: Financial statement presentation
• SEC unveils a "roadmap" to phase in IFRS for US public companies

IFRS Briefing, Issue 2008-05 (October 30, 2008)

• Which IFRSs are expected to apply for Canadian changeover in 2011?
• OSFI sets out its expectations on CSA's disclosure of IFRS Progress
• New amendment: Eligible hedged items
• Three new IASB exposure drafts
• New amendments to Financial Instruments accounting and disclosure
• Effects of IFRS on Information Systems

IFRS Briefing Issue 2008-04 (September 30, 2008)

• Exposure Draft: Amendments to IFRS 1

IFRS Briefing, Issue 2008-03 (September 18, 2008)

• IASB Work Plan changes likely to complicate your conversion plans
• IASB discusses expected 2008 exposure drafts
• New interpretation: Agreements for the construction of real estate
• New interpretation: Eligible hedge risks
• New accounting for business combinations and non-controlling interests
• Anticipated changes to income tax accounting under IFRS

IFRS Briefing, Issue 2008-02 (August 27, 2008)

• SEC unveils roadmap to phase in IFRS

IFRS Briefing, Issue 2008-01 (August 12, 2008)

• Delay in finalization for certain IFRS standards
• Proposed: Changes to Accounting for Employee Benefits (IAS 19)
• Proposed: Less complex standards on Financial Instruments Accounting
• IASB approves 35 amendments to IFRS
• CSA updates views on possible changes to securities rules
• Required: MD&A disclosures of progress towards conversion

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