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Canadian Standards in Transition > IFRSs in Canada  >  FAQs


 

 

FAQs
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  1. What are IFRSs?
  2. Why is the AcSB adopting IFRSs?
  3. Who will be affected by the adoption of IFRSs?
  4. When will the changeover to IFRSs take place?
  5. Some resources make reference to the “changeover date” and the “transition date”. What is the difference?
  6. How closely does the AcSB intend to follow IFRSs? Will there be adaptations and modifications?
  7. How much time is required to allow for a smooth and successful changeover to IFRSs in Canada?
  8. Does it still make sense to adopt IFRSs in 2011 in light of the economic downturn?
  9. How will the changeover to IFRSs affect publicly accountable enterprises?
  10. How do IFRSs compare with current Canadian GAAP?
  11. How should affected organizations get started in preparing for the changeover to IFRSs?
  12. When should affected entities start preparing for the change to IFRSs and when should they start gathering data under IFRSs?
  13. Are disclosures regarding the pending changes resulting from an enterprise’s transition to IFRSs required before 2011?
  14. How widespread is the use of IFRSs internationally?
  15. Does it make sense to transition to IFRSs if the United States does not?
  16. How will the changeover in Canada compare with the transition in other countries?
  17. How will the transition to IFRSs affect standard setting in Canada?
  18. How can Canadian CAs have input into the IFRS standard-setting process?
  19. Is there education support for accounting academics and students?
  20. As a CA, what do I need to know about IFRSs?
  21. How can I learn more?

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