Are Canadian companies ready for IFRS?

With the January 1, 2011 deadline for the transition by Canadian companies to International Financial Reporting Standards (IFRS), a new survey by the Canadian Financial Executives Research Foundation (CFERF), sponsored by PricewaterhouseCoopers (PwC), indicates that many companies will have a race to the finish line. Despite the fast-approaching conversion deadline, more than 12% of the 147 public companies surveyed and one in five private companies had not yet taken the first step of starting their initial diagnostic assessments. (Read the IFRS Readiness in Canada: 2009 — Survey Highlights).