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AcSB Response – OSFI Draft Advisory: Early Adoption of IFRS 9 Financial Instruments for Federally Regulated Entities with October Year-ends

  • IFRS - AcSB Image
  • IFRS - OSFI Image

Nov 14, 2014

On November 14, the Accounting Standards Board (AcSB) has responded to the Office of Superintendent of Financial Institution (OSFI)’s Draft Advisory.

The letter expresses concerns about OSFI’s proposal and notes that the AcSB concerns itself with the quality of Canadian entities’ implementation of new International Financial Reporting Standards given the interpretation risk and the associated implementation costs.

Read the letter.

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