IFRS Overview and Planning Sessions
Our interactive sessions identify transition issues and recommend strategies specific to your organization. Generally, participants include Board members, Audit Committees or finance management (CFOs, Controllers, etc.).
The discussions are tailored to ensure relevance to your organization and can be scheduled to
range from 2 to 5 hours.
Designed to bring clarity to your transition planning & implementation, the sessions include
discussions related to:
• Transition requirements from regulators
• IFRS-related MD&A disclosure requirements
• Practical planning & implementation strategies
• Potential business impacts beyond financial reporting
• Working with your auditor through the transition
• Recommended publications & reference materials
• Significant IFRS - Canadian GAAP differences relevant to your organization
To provide you with practical insight and recommendations, the sessions are conducted by individuals with a strong understanding of IFRS transition issues combined with significant
industry experience at a senior finance level.
IFRS Impact Assessment
We conduct an analysis of your financial statements based on the current differences between IFRS and Canadian GAAP, and any expected changes to the standards. The analysis focuses on the most significant issues to your organization and provides the foundation for a focused and effective IFRS transition plan.
Accounting Policy Research, Analysis & Documentation
While the scope of an IFRS transition remains large, the core elements are straightforward: accounting policy research, analysis and interpretation. We alleviate your team’s workload by providing thorough and documented analysis and interpretation of IFRS requirements based on your organization’s circumstances. Analyses are aligned with your transition plan to ensure appropriate resolution of any impacts on the business resulting from changes in accounting policy.
Management & Employee Training
Management and finance employees will require varying degrees of information. We can conduct educational sessions or prepare memoranda ranging from high-level information to detailed training on specific standards. Information is always tailored for specific audiences and focused only on issues relevant to your organization.
Director Education
While management is responsible for executing an effective transition to IFRS, Directors have a responsibility to play an oversight role. In addition, CSA guidelines state that the Board is responsible for a company’s internal control and information management systems, both of which have the potential to be significantly impacted by the transition to IFRS. We deliver presentations specifically tailored to the educational needs of Boards or Audit Committees.
Planning & Project Management
An effective transition to IFRS requires planning and coordination over several years. Active project management will help eliminate surprises, reduce complexities and manage transition costs. We can help to plan and/or manage your IFRS transition, ensuring your team’s efforts are continually focused on the appropriate issues.
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