What will the transition to IFRS require?

Moving to IFRS entails a number of steps:

• Technical accounting changes.
• Updating accounting policy procedures and manuals.
• Training personnel.
• Modifying internal controls and dealing with the impact on 52-109 certifications.
• Changing internal audit plans.
• System changes for capturing and reporting data.
• Management reporting updates.
• Audit support – accounting records must support application of IFRS.
• Communication to capital markets.
• Changes in financial statement presentation.
• New valuation rules.
• Additional disclosure requirements.

To find out how MNP can help you make the transition to IFRS, please contact your local MNP advisor or call Jason Kingshott, CA, at 1.877.500.0792.