The change in 2011 from Canadian GAAP to either IFRS or ASPE required a retroactive change in a company's financial statements.

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The transition from Canadian GAAP to IFRS or ASPE in 2011 required companies to retroactively apply the new accounting standards to their financial statements, ensuring that the opening balance sheet at the date of transition was prepared under the new framework, allowing for comparability over time.

The Change in 2011 from Canadian GAAP to Either IFRS