Changeover to International Financial Reporting Standards (IFRS)

Reporting issuers are required to adopt IFRS for financial years beginning on or after January 1, 2011.

The mandatory IFRS changeover date for investment funds has been deferred to financial years beginning on or after January 1, 2014.

The following links provide access to summaries of certain requirements related to the changeover to IFRS:

• IFRS – Reminder of certain regulatory requirements and accounting standards for first annual financial statements prepared under IFRS (published February 17, 2012)
   
• IFRS - Reminder of certain regulatory requirements for the second and third interim periods in the changeover to IFRS, (published on August 5, 2011)
   
• IFRS – Reminder of regulatory requirements for first interim reporting period, published on May 6, 2011, (published on May 6, 2011)

Calendars

Calendar of financial reporting deadlines in the year of IFRS adoption

• Venture issuer
• Non-venture issuer
   

Calendar of financial reporting deadlines in the years following IFRS adoption

• Venture issuers
• Non-venture issuers

Companies with rate-regulated activities may use Canadian GAAP in Part V of the CICA Handbook for their financial years ending before January 1, 2012. They may also obtain an exemption in order to use U.S. GAAP for their financial years beginning on or after
January 1, 2012 but ending before January 1, 2015.

Companies listed with the U.S. Securities and Exchange Commission (SEC) may use U.S. GAAP.

For more information

Please contact any of the following:

Johanne Boulerice
Manager, Continuous Disclosure
Telephone: 514-395-0337, ext. 4331
Toll-free: 1-877-525-0337, ext. 4331
E-mail: johanne.boulerice@lautorite.qc.ca

Hugues Gravel
Analyst, Continuous Disclosure
Telephone: 514-395-0337, ext. 4329
Toll-free: 1-877-525-0337, ext. 4329
E-mail: hugues.gravel@lautorite.qc.ca