Canada's plan to move toward IFRSs for public companies
12 Jul 2006
An article titled Going Global in the June 2006 issue of CA Magazine (published by the Canadian Institute of Chartered Accountants) explains Canada's new plan to converge Canadian GAAP with IFRSs over a transitional period of five years.
During that time, the Accounting Standards Board of Canada will focus its efforts on removing the differences between Canadian GAAP and IFRSs by replacing individual Canadian standards with IFRSs. The article presents views on the Canadian convergence plan from the perspectives of financial executives, auditors, regulators, and standard setters. Click here for a Link to the Article on the CICA Website.