Canada - A New Year’s Resolution!

Canada’s transition to International Financial Reporting Standards (IFRS) is anticipated to take effect in 2011. It will significantly impact financial reporting for all publicly-accountable enterprises, including 4,500 publicly-listed companies. Canada’s Chartered Accountants have a suggested New Year’s resolution for the business leaders of these publicly-traded companies. They are being urged to ensure that preparation for the changeover to IFRS be an essential element of any corporate plan for 2008. (View the CICA Press Release.)