Canada will not early adopt IFRS
Tuesday 1 November 2011 - by Nicola York
Canadian financial institutions will not be adopting new or amended International Financial Reporting Standards early but will instead stick to the mandatory effective deadlines.
"Given the considerable work effort in transitioning to IFRS and amount of recently issued IFRSs with a similar effective date, OSFI believes that this position provides a reasonable timeframe for FREs to adequately plan, analyse and implement these accounting standards within their organisation."
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