What approach did Canada first decide to take with respect to convergence with IFRSs?
A) Harmonization of Canadian GAAP with IFRS.
B) Substituting IFRS's for Canadian GAAP when approved by the IASB.
C) Adopting some but not necessarily all IFRSs by reviewing them on a case by case basis.
D) Reviewing them with all publically accountable entities to see which ones would be acceptable.

Question

Quizplus · Accepted Answer

Canada initially decided to harmonize its Canadian GAAP with IFRS to ensure consistency and comparability in financial reporting.

What Approach Did Canada First Decide to Take with Respect