The year ahead will be challenging for many companies as they approach this looming deadline. Audit committees will play an important role this year in monitoring the progress of the company’s conversion plan and reviewing the company’s MD&A before its public release.
In Current Issues Dominating the Audit Committee Agenda, we identify ten to-do’s for audit committees in 2010. This list is intended as a starting point for setting the audit committee agenda for the coming year.
In Financial Reporting Updates, we outline significant regulatory, accounting, and auditing rules, standards, and projects issued since our 2009-02 issue of Canadian Audit Committee Update.
Audit Committee Evolving Issues focuses on communicating to stakeholders about the impact of adopting IFRS. As the company prepares its 2010 MD&A disclosures, audit committees should be mindful of the needs and expectations of external stakeholders, including regulators. We wrap up with some potential questions for audit committees to consider when thinking about IFRS-related communications.