Your invitation to comment

摘要

Will the "big GAAP/little GAAP" debate move to the international financial reporting standards (IFRS) platform? The Accounting Standards Board (AcSB), which introduced differential reporting for Canadian GAAP a few years ago, is looking into the question and has launched an Invitation to Comment (ITC) and accompanying Discussion Paper, "Financial Reporting by Private Enterprises," seeking public comment on the future of financial reporting by private enterprises. Among other things, these documents include a comprehensive review of the needs of private enterprise financial statement users, tentative conclusions on a few critical issues, and three possible approaches to developing a GAAP for private enterprises.