Which of the following is NOT a reason why a Canadian private company would elect to report under IFRS?
A) The company is planning to go public in the near future.
B) The company seeks comparability with public companies of a similar size.
C) It is likely to be less expensive than reporting under ASPE.
D) The company is a subsidiary of a Canadian public company.

Question

Quizplus · Accepted Answer

Reporting under IFRS is generally more complex and potentially more costly than reporting under Accounting Standards for Private Enterprises (ASPE), especially for smaller, private companies due to the increased disclosure requirements and complexity of IFRS standards.

Which of the Following Is NOT a Reason Why a Canadian