Implications of moving to IFRS for existing Canadian/US GAAP differences

The document, Implications of moving to IFRSs for existing Canadian/US GAAP differences, has been prepared by the staff of the Accounting Standards Board (AcSB) to provide a high level summary of the extent to which convergence of Canadian standards with International Financial Reporting Standards (IFRS) could be expected to eliminate existing differences between Canadian and US GAAP, or create new differences. Its purpose is to provide readers of the AcSB’s “Implementation Plan for Incorporating International Financial Reporting Standards into Canadian GAAP” with information about the extent to which the move to IFRS will reduce or increase conflicts with US GAAP compared with those that exist currently between Canadian standards and US GAAP.