Thursday, December 03, 2009

Canada - Top 20 things to do before 2010

Deloitte Canada has developed a checklist covering the 20 things to do before 2010 so that publicly-accountable enterprises can keep their conversion to International Financial Reporting Standards (IFRS) on track for 2011. This checklist is designed to help a company complete its preparation before 2010 for a seamless conversion. It is also intended to help companies:
  • Save money in the long run by investing the time and resources now, rather than completing the conversion on a rush basis with limiting options; 
  • Prioritize actions to be included in year-end progress reports required in management's discussion and analysis (MD&A) for public companies in the fourth quarter of 2009;
  • Prevent or minimize known difficulties that are commonly encountered in practice by Canadian entities;
  • Motivate immediate action by emphasizing that certain tasks cannot wait until 2011.