IFRS: Accounting for People

The deadline to become IFRS-compliant in Canada is January 1, 2011. Doing so is more than an accounting exercise as it impacts constituencies across an organizational structure. The adoption of IFRS in Europe, South America, Japan and Australia suffered by focusing too much on finance and accounting and not devoting sufficient attention to other functions, such as human resources. Because IFRS can affect the human side of an organization, it is vital to include human resources in the implementation stage. (Read the article "Accounting for People" in CAmagazine.)