The Canadian Securities Administrators (CSA) today released an updated version of Staff Notice 81-320 regarding the adoption of IFRS by investment funds in Canada. The notice was first published in October 2010, and revised in March 2011. Ultimately, the revisions to the notice reflect the fact that the Accounting Standards Board has extended the mandatory changeover date to IFRS for investment funds to January 1, 2014. According to the AcSB, the deferral reflects the likelihood that the IASB will not issue proposed guidance on investment entities before January 1, 2013.
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