IFRS Transition — What Audit Committees Should Be Asking

Reprinted from the 2008-01 issue of Canadian Audit Committee Update, this article considers the audit committee's oversight of an enterprise's transition to IFRS. It notes that directors should be asking about: the changeover project itself; financial reporting impact; broad impact on the enterprise and its stakeholders; and implications for the board of directors and board committees. (Read the article on the KPMG Canada website.)