Canadian GAAP and IFRS both have line items that need to be presented, but IFRS requires more disclosures, as detailed in IAS 1, paragraph 54. Read more »

There will continue to the same financial statements that we are all familiar with, but the terminology will change. Read more »

Gary Schein of GFS Consulting is available to assist companies in Canada with initial preparation for IFRS. Read more »

IFRS Project Consulting

As changes to financial reporting, IT systems, business processes and perhaps entity controls evolve throughout the IFRS conversion time frame, it’s critical that internal controls, especially those related to NI 52-109 and SOX 404 certification, are maintained, redesigned and operate effectively throughout this project. Read more »

IFRS – Other Considerations

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IFRS + Information Systems
One of the areas that companies will need to focus on is the information systems. The September 2008 CA Magazine (Denis Posten et al) has an excellent overview of IT considerations and some excerpts from that article have been included. Read more »