International Financial Reporting Standards (IFRS)

Growing numbers of countries are adopting IFRS. One of the many benefits of the new standards is improved transparency of financial reporting. For most Canadian publicly accountable enterprises, January 1, 2010 began the transition year in their move to this new accounting language. KPMG continues to assist clients both in Canada and internationally to implement and interpret these standards as they evolve.

Understanding IFRS

IFRS represents a complete change in the language of financial reporting. Are you comfortable with your level of understanding of how this change affects reported financial results? Specific standards continue to evolve—how are you continuing your learning? KPMG’s resources can help.

Industry Guidance

Differences between Canadian GAAP and IFRS affect some industry sectors more than others. What are the key implications for your industry sector? What are the global financial reporting trends in your industry?

KPMG’s IFRS Resources

KPMG offers a library of IFRS-related publications, tools, and other resources that we believe can help enterprises in understanding and adopting IFRS. While most will be relevant to all enterprises, some address special issues affecting particular industry sectors.

IFRS Webcast Series

IFRS professionals regularly produce and deliver webcasts on the latest IFRS standards and changes that are of interest to our clients.

Managing Your IFRS Implementation

Many Canadian enterprises have their IFRS conversion projects well in hand, but others fell behind and are working to catch up. What do you need to be doing to help ensure your enterprise will make a successful changeover and embed IFRS throughout your organization? KPMG’s resources can help.

Tax Considerations for IFRS

Many IFRS standards affect tax reporting. Enterprises should understand the impact of all IFRS-related adjustments, when adopting these standards and on an ongoing basis. For your enterprise, what tax issues could arise from adopting IFRS?

KPMG’s IFRS Resources for Directors

Boards and audit committees need to provide effective oversight of the IFRS conversion process, as well as financial reporting in accordance with IFRS.

Are you involved with an enterprise’s board or audit committee? Visit our library of IFRS-related resources.

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