IFRS Early Adoption in Canada 52-402

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Early Adoption of IFRS
The Canadian Securities Administrators recently issued an IFRS concept paper 52-402 on February 15, 2008 to invite discussion and feedback on various IFRS details including the option for early adoption of IFRS for financial years beginning 2009. The rationale is to allow companies to choose to adopt IFRS sooner than later, allowing for better resource planning and reduce costs. The conclusion is not final, but CSA staff and responders have indicated that the early adoption option should be allowed.

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