Countdown - Deloitte Canada’s IFRS transition newsletter

Deloitte Canada has released a Special Edition of the Countdown IFRS transition newsletter. It presents comments from the chair of the Canadian Accounting Standards Board (AcSB); information about AcSB's new omnibus exposure draft Adopting IFRSs in Canada; an interview with Ian Hague of the AcSB staff regarding the transition to IFRS; and IFRS events. In addition, Deloitte Canada has released the April 2008 issue of their Countdown newsletter. This issue covers (a) the proposed definition of Publicly Accountable Enterprises (PAEs) in order to help entities determine whether they are "in or out" of IFRS; (b) commentary on certain legal implications to enterprises transitioning to IFRS; and an update on current IFRS events. (Read the Countdown Special Edition or the Countdown - April 2008.)

KPMG US establishes IFRS Institute

KPMG in the United States has established an IFRS Institute to raise awareness and address the information needs of companies, investors, academics and others who may be affected by a transition of US companies to International Financial Reporting Standards (IFRS). The Institute's first webcast is scheduled for May 1, 2008. For more information or to register for the webcast, visit the KPMG IFRS Institute website.

Sir David Tweedie addresses the Empire Club of Canada

On April 25, 2008, Sir David Tweedie, Chairman of the IASB, addressed the Empire Club of Canada in Toronto. He spoke about the credit crisis, the possibility of a Global Standard, the Memorandum of Understanding and the IASB-FASB work program, a principles-based approach going forward, and the future for IFRS. Read the presentation online at the IASB website or download the Speech.

IFRSs in Your Pocket

Deloitte has published the 2008 edition of IFRSs In Your Pocket. The 112 page guide includes information about: IASB structure and contact details; IASB due process; use of IFRS around the world, including updates on Europe, Asia, US and Canada; summaries of each IASB Standard (to IFRS 3 and the amended IAS 27) and Interpretation (to IFRIC 14), as well as the Framework and the Preface to IFRS; background and current status on current IASB projects; IASC and IASB chronology; and an update on IFRS-US GAAP convergence.

Adoption of IFRS by UK-listed Companies

In a recent interview-based survey, BDO Stoy Hayward examined the experiences of UK-listed companies in making the transition from UK GAAP to International Financial Reporting Standards (IFRS). It sought to identify the lessons learned and to share those lessons with companies currently making, or about to make, the transition. (Visit the BDO website or read the survey on Attitudes to IFRS.)