With the changeover to IFRS effective January 1, 2011, most entities in Canada should be well advanced with their IFRS changeover plans. The Canadian Securities Administrators’ (CSA) Staff Notice 52-320 sets out the securities regulators’ expectations about disclosure in the period leading up to the changeover to IFRS as the basis for preparing its financial statements. The MD&A should discuss the progress towards changeover, including key activities, deadlines and accomplishments to date.
The guidance contained in CSA Staff Notice 52-320 applies to disclosure relating to each financial reporting period in the three years before the first year for which an issuer prepares its financial statements in accordance with IFRS. You can access CSA Staff Notice 52-320 at the link here (PDF) .