Canada - KPMG: Accounting for Taxes in Your IFRS Conversion Plan

International Financial Reporting Standards (IFRS) will replace Canadian Generally Accepted Accounting Principles (GAAP) for fiscal years beginning on or after January 1, 2011, and most companies have started their changeover to IFRS. However, many companies have delayed their detailed assessment of income taxes. What does this mean for your company’s conversion plans? With the proposals abandoned in their current form and deadlines looming, Canadian companies can no longer ignore existing IAS 12. On Thursday, January 21, 2010, KPMG presented a webcast discussion on the implications of IFRS conversion on income taxes. Find out about some of the common IFRS conversion issues related to income taxes that many companies are facing today. (Read The Clock is Ticking – Accounting for Taxes in Your IFRS Conversion Plan at KPMG online.)