International Financial Reporting Standards will first be adopted by which of the following in Canada?
A) firms with government loans owing
B) publicly accountable organizations
C) for-profit firms only
D) all firms

Question

Quizplus · Accepted Answer

International Financial Reporting Standards will first be adopted by publicly accountable organizations in Canada, which include publicly traded companies, banks, insurance companies, and pension funds. Other entities, such as private companies and not-for-profit organizations, may also choose to adopt these standards voluntarily.

International Financial Reporting Standards Will First Be Adopted by Which