Canada - Time to get moving

According to a recent CICA survey, the vast majority of Canadian publicly accountable enterprises are closer to the starting gate than to the finish line when it comes to preparing for the transition to International Financial Reporting Standards (IFRS). The survey was conducted in March 2008 with 550 senior Canadian executives who are chartered accountants, almost 300 of whom must report using IFRS by 2011. Only 8% of those executives indicate they have begun the conversion process while 72% have not yet reached the stage of assessing the impact of IFRS on their operations. (Read the article "Time to get moving.")