International Financial Reporting Standards (IFRS)

The Canadian Accounting Standards Board requires all publicly accountable entities to adopt IFRS (International Financial Reporting Standards) for interim and annual financial statements relating to fiscal years beginning on or after January 1, 2011, including the restatement of comparative prior financial statements on the same basis.  The London Fire Fighters Credit Union is pleased to report that the transition from Canadian GAAP (Generally Accepted Accounting Principals) to IFRS has successfully been completed for the year-ended December 31, 2011.

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