CICA updates assurance guide for transition to IFRS
The Canadian Institute of Chartered Accountants (CICA) has released an updated version of its publication Assurance Implications of the Changeover to IFRSs.
The publication provides guidance to an entity's auditors dealing with significant auditing and assurance matters arising from their clients' changeover from existing Canadian GAAP to IFRSs. For many entities, International Financial Reporting Standards (IFRSs) will replace existing Canadian generally accepted accounting principles effective for interim and annual financial statements relating to fiscal years beginning on or after 1 January 2011.
The eighth edition of the publication contains minor updates to the previous versions and is available on the CICA website (PDF 299k).