Focus on IFRS

Moving orward, quickly

5XP;WFSZ;EJ⒎; FSFOU;p;SNT;FYQMBJO;
IPX;UIFZ;UBDLMFE;UIF;CJHHFTU;DIBOHF;
UPEBZ`T;BDDPVOUBOUT;XJMM;GBDF
#Z;(SBOU;$BNFSPO
HE KEY INGREDIENTS for a successful transition
to IFRS, it would appear, are proper planning and
preparation. Oh, and don’t forget to mix in plen-
ty of staff training and clearly communicating
the changes to employees throughout the com-
pany, as well as various external stakeholders.
That’s the advice from those who’ve successfully led
the transition at two of the country’s largest companies,
Canada Post, a Crown corporation with revenue exceed-
ing $7.5 billion, and Bombardier, a publicly traded firm
with revenue of almost $20 billion.
Executives at both companies began planning for the tran-
sition nearly two years ago, establishing special committees,
task forces and operating groups to prepare for the inevitable.