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The implementation of the new accounting standard will alter the timing of how commission expenses are recognized

Magnifying glass focused an invoice with negative numbers

Canadian banks may be forced to take more provisions now that IFRS 9 has been fully introduced

The revisions result from the adoption of IFRS 9 accounting standards by deposit-taking institutions in 2018

The group is asking companies to disclose the likely effects of the new standards on their financial statements

The regulator’s notice examines several financial reporting issues, such as the use of non-standard accounting metrics

Every company can calculate non-GAAP metrics however they want, so there’s real risk of investors and markets being misled

  • By: Neil Gross
  • October 3, 2016 January 17, 2018
  • 05:00

IOSCO, IFRS Foundation to strengthen co-operation in the development and implementation of IFRS Ssandards

CSA staff notice says this type of financial reporting “may mislead investors” if it’s not accompanied by appropriate disclosure

The aim is to provide investors with more useful information

Proposed statement is intended to help issuers provide investors with clear and useful disclosure