The Canadian Accounting Standards Board (AcSB)
has proposed a two year delay in IFRS implementation for entities
with rate-regulated activities.
Canadian publicly accountable entities must
use IFRS for interim and annual financial statements relating to
annual periods beginning on or after 1 January 2011.
The AcSB said a two-year deferral period would
allow qualifying entities sufficient time to meet the requirements
of a new IFRS on rate-regulated activities in the event one is
issued late in 2011.
The AcSB is accepting comments until 31 August
and will issue its final decision in December.
GlobalData Strategic Intelligence
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
