Canada has adopted International Financial Reporting Standards for publicly traded companies.

Question

Quizplus · Accepted Answer

Canada has indeed adopted International Financial Reporting Standards (IFRS) for publicly traded companies since 2011. This is in line with the global trend towards a single set of high-quality accounting standards for financial reporting. The use of IFRS in Canada aims to enhance financial transparency, comparability, and credibility of financial statements, not only for investors but also for other stakeholders such as regulators and analysts.

Canada Has Adopted International Financial Reporting Standards for Publicly Traded