This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

AcSB extends deferral of implementation of IFRS for investment funds

  • Canada Image

21 Jan 2011

The Accounting Standards Board (AcSB) extended by one year the deferral of the mandatory changeover to IFRSs for investment companies and segregated accounts of life insurance enterprises.

In October 2009, the Canadian Securities Administrators (CSA) proposed amendments that would have required investment funds to transition to IFRS by 1 January 2011. In October 2010, the AcSB deferred the mandatory IFRS changeover date to 1 January 2012 for investment companies in order to give the International Accounting Standards Board (IASB) time to implement the proposed exemption for investment companies from having to consolidate investments they control. The new goal for IFRS implementation for investment funds is now 1 January 2013.

Click for:

 

Related Topics

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.