Wednesday, January 7, 2009

Management Discussion and Analysis and IFRS

The CICA Report on Industry is holding a Webinar on IFRS on January 14 at 12.30 pm. The presentation will be made by Peter Chant, a senior technical partner at Deloitte. He is also one of the authors of the book iGAAP:IFRS for Canada: that I reviewed last November. It's an excellent reference source.

This Webinar will bring suggestions for what companies should be disclosing in their MD&A about the conversion to IFRS in the period leading up to the 2011 changeover. It will address both disclosures about the changeover plan and the impact of the conversion on an entity's financial reporting, including considerations in determining the timing for various disclosures.

I have covered this matter in previous posts on this blog. Everybody is asking so what when I make this disclosure in the first instance what do I say? What are the expectations of the CSA going forward? Won't they want to see a progression towards the goal? What if you have actually done little or nothing on IFRS to date, except for background reading and course attendance? Is there a penalty?

I will be very interested on what Peter Chant has to say.

You may wish to review the material in my previous post, linked to above,prior to attending the webinar

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