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International Financial Reporting Standards, or IFRSs, will soon become the new “Canadian GAAP” for publicly accountable enterprises, or PAEs. These standards, developed by the International Accounting Standards Board (IASB), will be incorporated into Canadian GAAP, and PAEs will be required to adopt IFRS for annual periods commencing on or after January 1, 2011. By the end of 2008, public companies should have completed the planning for transition to IFRS and assessed the anticipated effect on financial reporting. The transition to IFRS will require education and process change on the part of Canadian public companies, their investors, lenders and advisors.
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The conversion to IFRS is a multi-year process that requires considerable planning and preparation. Deloitte’s IFRS site can help your company on the conversion journey. |  | IFRS resources
With so much information available, understanding the detailed impacts of IFRS can be baffling. Connect to a range of relevant tools, periodicals and regulatory guidance recommended by our IFRS professionals. |
Deloitte can help your company make the transition. We offer a range of services to assist Canadian companies in converting to IFRS, including:
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