IFRS: the first quarter

The first IFRS Canadian corporate report filings are now in. How did the implementation go? What went right? What went wrong? What can we expect in the future? With a number of major IFRS projects underway at the International Accounting Standards Board — such as leases and financial instruments — the reporting landscape is still a live environment. But, the transition to a new era is now formally in play on the balance sheets of Canada’s publicly listed companies. With more than 4,100 IFRS-infused first quarter reports being filed with regulators in 2011, these organizations have only the briefest of respites to look back at what was for many an unexpectedly daunting task. (Read the article "IFRS: the first quarter" in the August 2011 issue of CAmagazine online.)