Update on Canada’s IFRS Advisory Committee (IAC)

Canada’s IFRS Advisory Committee (IAC) met on August 16 and November 3, 2006 to discuss various issues on the June 2006 “Implementation Plan for Incorporating IFRSs into Canadian GAAP” published by the Accounting Standards Board. The IAC also reviewed its Terms of Reference and the IASB’s structure and due process. The next meeting is on December 18, 2006 in Toronto. IAC meetings are open to the public.