Ernst & Young does and can provide insight on the AcSB's announcement
TORONTO, Feb. 14 /CNW/ - It's official. International Financial Reporting
Standards (IFRS) are coming to Canada. More than 100 countries have already
adopted IFRS, and the transition is more than a technical accounting exercise.
It could be a major change management project that could reach into all
corners of a business, from human resources to information technology, and
Yesterday, the Accounting Standards Board (AcSB) of the Canadian
Institute of Chartered Accountants confirmed January 1, 2011 as the official
changeover date for IFRS. That means new challenges and significant impacts
for thousands of Canadian companies. Careful planning and an early start will
be key to a successful changeover.
Ernst & Young can offer valuable insight on how IFRS will change
financial reporting for Canadian public companies. The firm's specialists can
also explain what companies must do now to ensure they are ready to go in
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