IFRS and systems implications

There was a recent article in the CFO Magazine on the systems implications of IFRS conversions and the need to consider them sooner rather than later.
The article Can Your CIO Spell IFRS? was written by Sarah Johnson and published on September 3.

How far are you in looking at the systems implications of your conversions and can you run your systems on two GAAP bases? You will need to have a plan in place to capture IFRS 1 information in 2010.