Canada - KPMG surveys on The IFRS Journey to Readiness

With January 1, 2010 transition dates fast approaching, and the market turbulence caused by the global recession notwithstanding, many Canadian publicly listed companies have made good headway in scoping and assessing the impact of converting to International Financial Reporting Standards (IFRS). With only a few months left before the transition date for most companies, however, most of the design and implementation activities associated with conversion have yet to be tackled. Following on The IFRS Journey to Readiness: Part 1, KPMG conducted a second survey in June and July 2009, asking 113 Canadian publicly-accountable enterprises to assess their IFRS conversion readiness in four phases: scoping, detailed assessment, design and implementation. KPMG has just released the second white paper in a series of surveys, entitled The IFRS Journey to Readiness: Part 2. (Other IFRS resources and tools are available on the KPMG website.)