Article Posted date
13 May 2022
The Canadian Alternative Reference Working Group (CARR) recommendation1 that the Canadian Dollar Offered Rate (CDOR) be retired over two phases through 2023 and 2024 includes an expectation that CDOR based contracts will be transitioned to an Alternative Benchmark Rate (ABR).
The potential transition from CDOR to an ABR as the key interest benchmark rate in contracts may have certain accounting implications. Those related to International Financial Reporting Standards (IFRS) are covered in this document.
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