Industry Specific Issues

• Banking
• Insurance
• Manufacturing
• Mining
• Oil and Gas
• Pharmaceutical
• Real Estate
• Retail
• Technology
• Telecommunications
• Utilities

For some industries, the transition to IFRS presents unique or complex challenges. Here are industry-specific resources that will help those in such industries assess needs, and prepare to implement new standards.

We are continuing to develop industry-specific courses and conferences, which will be announced as they become available. Subscribe to our update service to be notified of additions to the industry specific resources.

We are also monitoring industry-specific publications from other sources. As these come to our attention, we will update this webpage.

Publications

There are many industry-specific publications available from Canadian and International sources, both of which can be valuable. It is important to note that certain aspects of International publications will not be relevant for, and are potentially misleading to, a Canadian transition to IFRS (for example, US publications may address the differences between US GAAP and IFRS which are only relevant if US and Canadian GAAP are similar for that particular issue). The international publications can still be useful to the extent they are discussing IFRS standards in general without referring to differences to another GAAP, or specific transition timelines from other countries.

Banking 

Canadian Publications

• Transition to IFRS – The impact on the “Big 6” Canadian banks (KPMG)
• Perspectives on the Canadian banking industry: putting IFRS in motion (PricewaterhouseCoopers)

Courses and Conferences

• IFRS – Financial Services – Banking

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Insurance 

International Publications

• Implementing IFRS in the Insurance Industry (KPMG)
• Delto Insurance Group plc: Illustrative financial statements and selected disclosures for the year ended 31 December 2008 (Deloitte)

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Manufacturing 

Canadian Publications

• Putting IFRS in motion: The impact of International Financial Reporting Standards (IFRS) on the Canadian manufacturing and consumer products sector (PricewaterhouseCoopers)

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Mining 

Canadian Publications

• Viewpoints: Applying IFRSs in the Mining Industry
  • Depletion of a Mine in the Production Phase: Useful Life of the Mine (August 2011)
  • Commencement of Commercial Production (July 2011)
  • Impairment of Exploration and Evaluation Assets (June 2011)
  • Exploration and Evaluation Expenditures (May 2011)
  • Farm-out Arrangements in the Exploration and Evaluation Phase (May 2011)
  • Phases of Activities (May 2011)
  • Flow Through Shares (May 2011)
  • Functional Currency (April 2011)
    
• IFRSs: What Mining Executives Need to Know

 

International Publications

• Refining IFRS (Ernst & Young)
• Application of IFRS: Mining — September 2009 (KPMG)

 
Courses and Conferences

• IFRS - Mining Industry

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Oil and Gas 

Canadian Publications

•  Viewpoints: Applying IFRSs in the Oil and Gas Industry
  • Flow -Through Shares
  • Farm-Out Arrangements in Exploration and Evaluation Phase   
• IFRSs: What Oil & Gas Executives Need to Know
• Impact of IFRS on the Oil and Gas Industry (KPMG)
• Illustrative Financial Statements: Canadian Full Cost Oil and Gas Industry (KPMG)
• Information Guide on the Adoption and Implementation of IFRS for the Canadian Upstream Oil and Gas Industry (Canadian Association of Petroleum Producers)
• Putting IFRS in Motion: the impact of International Financial Reporting Standards (IFRS) on the Canadian Oil and Gas Sector (PricewaterhouseCoopers)
• IASB's response to Canada's proposed amendments to IFRS 1 (see page 2)

International Publications

 

 
Courses and Conferences

• IFRS - Oil & Gas Industry

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Pharmaceutical 

Canadian Publications

• Putting IFRS in Motion: The Impact of International Financial Reporting Standards on the Canadian Pharmaceutical and Life Sciences Sector (PricewaterhouseCoopers)

 

Real Estate 

Canadian Publications

• IFRSs: What Real Estate Executives Need to Know
• The day after IFRS: Will NAV win the day? (National Bank Financial)
• Putting IFRS in motion: The impact of International Financial Reporting Standards (IFRS) on the Canadian real estate sector (PricewaterhouseCoopers)
• Impact of IFRS on the Real Estate Industry (KPMG)

Courses and Conferences

• IFRS - Real Estate

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Retail 

International Publications

• Consumer Markets: IFRS and Retail (KPMG)
• IFRS: Evolution or Revolution in Retail (KPMG)

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Technology 

Canadian Publications

• Putting IFRS in motion: The Potential Impact of International Financial Reporting Standards (IFRS) on the Canadian technology sector (PricewaterhouseCoopers)

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Telecommunications 

International Publication

• Impact of IFRS: Telecoms (KPMG)

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Utilities 

Canadian Publications

• Putting IFRS in motion: the potential impact of International Financial Reporting Standards (IFRS) on the Canadian utilities sector (PricewaterhouseCoopers)

 

International Publications

• Mastering the challenge - Practical IFRS guidance for power and utilities (Ernst & Young)

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