IFRS IN CANADA
-Business Issues and Implementation Strategies

A Comprehensive Examination for Canadian Reporting Entities on First Time Adoption Of  IFRS Standards and Related Operational Considerations

November 27-29, 2007 • InterContinental • Toronto


Overview

Cadian GAAP is being eliminated.  For Canadian companies reporting in the U.S. the impetus to implement IFRS may never be stronger than it is now as the SEC is likely to waive reconciliation for financial statements prepared according to IFRS standards.  In addition, there are transitional requirements that require reporting in 2008 and, for effective compliance, you will need comparative information for 2010.  The transition process will be complex and challenging as a wholesale GAAP conversion will require extensive planning and comprehensive integration with all departments and systems. 

During the transition for full IFRS compliance, there will be significant differences to address for multi-jurisidictional reporting entities and, even with SEC acceptance of IFRS filings, their requirement will likely be for statements to be in accordance with IAS as issued by the IASB as opposed to jurisdictional versions. This will be no mere technical accounting task for entities filing with the SEC if they want to avoid reconciliations.  Early adoption will require long-term planning and clear vision of what the implementation requires.

IFRS In Canada – Business and Implementation Strategies has been specifically tailored to meet your immediate information needs for initial planning and evaluation of this monumental challenge.  This conference will lead you through the project planning process and highlight critical ancillary topics that are often under-estimated including systems and income tax planning.

IFRS In Canada – Business and Implementation Strategies provides the most complete examination of this challenging process that you will find anywhere in Canada.  With an operation focus on transition and implementation, this event will walk you through

 

 

  • Understanding the AcSB plan and what to expect from standard setters
  • Placing IFRS within the North American corporate governance and financial reporting context
  • Examination of IFRS financial statements and core principles
  • Increased and more frequent disclosures
  • Diagnostic review of key accounting areas for first time adoption
  • Profile of an IFRS conversion – a project management approach
  • Fair value accounting and specific issues of concern
  • Impairment:  measurement, recognition and allocation
  • IFRS compliance for foreign operations
  • Income tax implications of IFRS
  • Information system and information management:  the IFRS impact

As well, there will be a half day, practical workshop that will enable you to work with experts in IFRS project planning and implementation who will give you a greater applied knowledge to tackle you own situation.  Please see the detailed workshop outline enclosed for full information on these sessions.

This signature event provides a first-hand opportunity to hear from, and speak with, leading national experts on IFRS and the critical related topics of governance, tax and systems management.  In addition, you will have a unique opportunity to meet with your peers to discuss how they are responding to the challenges of this major development for internal control and financial reporting.

Finally, I cannot emphasize enough the importance of turning your mind now to the demands of IFRS convergence.  This is much larger than a simple technical accounting exercise.  The implications for your organization are no less pervasive or difficult than your recent experiences with SOX compliance.  Take advantage of the valuable information available at this conference to stay on top of all the accounting and reporting developments confronting you in 2008 and beyond.