Updated comparisons of IFRSs and Canadian GAAP
Jan 24, 2009
The Accounting Standards Board (AcSB) of Canada has adopted a strategy to replace Canadian standards with International Financial Reporting Standards (IFRSs) for publicly accountable enterprises by 1 January 2011. Other enterprises may also elect to adopt IFRSs.
To assist those affected by this strategy in becoming familiar with differences between Canadian standards and IFRSs, the AcSB staff has prepared an unofficial comparison between the more significant aspects of IFRSs and Canadian standards as of 31 July 2008. The comparison also identifies the currently active standard-setting projects of the IASB, FASB, and AcSB and comments on the extent to which the work in process is expected to eliminate existing differences:
- English: Summary (Tabular) Comparison of IFRSs and Canadian GAAP (PDF 308k, 33 pages)
- English: Detailed (Narrative) Comparison of IFRSs and Canadian GAAP (PDF 729k, 128 pages)
- French: Summary (Tabular) Comparison of IFRSs and Canadian GAAP (PDF 326k, 45 pages)
- French: Detailed (Narrative) Comparison of IFRSs and Canadian GAAP (PDF 609k, 134 pages)
- More information about Transition to IFRSs in Canada
