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ROGERS COMMUNICATIONS INC. 2009 ANNUAL REPORT 71
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
ACTIVITY MILESTONES STATUS
Financial reporting:
• Assessment of accounting and
reporting differences.
• SelectionofIFRSaccountingpolicies
and IFRS 1 elections.
• DevelopmentofIFRSnancial
statement format, including disclosures.
• Quanticationofeffectsofconversion.
• Senior management and Audit
Committee sign-off for policy
recommendations and IFRS 1 elections
during 2009.
• Senior management and Audit
Committee sign-off on financial
statement format during 2010.
• Final quantification of conversion
effects on 2010 comparative period by
Q1 2011.
• Senior management and Audit
Committee preliminary approval
obtained for IFRS accounting policies
and IFRS 1 elections.
• Monitoring of impacts on policy
recommendations of new or amended
IFRS standards issued ongoing.
• Preliminary IFRS financial statement
format and disclosures drafted.
Systems and processes:
• Assessment of impact of changes on
systems and processes.
• Implementationofanysystemand
process design changes including
training appropriate personnel.
• Documentationandtestingofinternal
controls over new systems and
processes.
• Systems, process and internal control
changes implemented and training
complete in time for parallel run in
2010.
• Testing of internal controls for 2010
comparatives completed by Q1 2011.
• Systems and process changes
completed in preparation for parallel
run. Internal reporting changes
underway.
• Internal controls for impacted process
and transition updated in preparation
for parallel run.
• Training on new systems, processes
and internal controls completed.
Business:
• Assessment of impacts on all areas of
the business, including contractual
arrangements and implement changes
as necessary.
• Communicateconversionplanand
progress internally and externally.
• Contracts updated/renegotiated by
the end of 2010.
• Communication at all levels
throughout the conversion process.
• Preliminary assessment of impacts
on other areas of the business
completed.
• Communication is ongoing.
• Training for employees on expected
impacts completed.
We have allocated sufficient resources to our conversion
project, which include certain full-time employees in addition to
contributions by other employees on a part-time or as needed
basis. We have completed the delivery of training to all employees
with responsibilities in the conversion process. As well, training
for all other employees who will be impacted by our conversion
to IFRS has been completed. Our training efforts have focused on
updating those individuals whose roles and responsibilities are
directly impacted by the changes being implemented and providing
general training to employees on the impacts transition to IFRS will
have on the Company.
Although our IFRS accounting policies have been approved by
senior management and the Audit Committee, such approval is
contingent upon the realization of our expectations regarding
the IFRS standards that will be effective at the time of transition.
Consequently, we are unable to make a final determination of the
full impact of conversion until all of the IFRS standards applicable
at the conversion date are known. Our preliminary analysis of
the impacts of transition to IFRS on specific areas is detailed on
following page. When we are able to preliminarily determine
the areas of significant impact on our financial reporting, including
on our key performance indicators, systems and processes, and
other areas of our business, we will disclose such impacts in our
future MD&As.
CHANGES IN ACCOUNTING POLICIES
In the period leading up to the changeover, the AcSB will continue
to issue accounting standards that are converged with IFRS, thus
mitigating the impact of adopting IFRS at the changeover date. The
International Accounting Standard Board (“IASB”) will also continue
to issue new accounting standards during the conversion period,
and as a result, the final impact of IFRS on our consolidated financial
statements will only be measured once all the IFRS applicable at the
conversion date are known. Consequently, our analysis of changes
and policy decisions have been made based on our expectations
regarding the accounting standards that we anticipate will be
effective at the time of transition. The future impacts of IFRS will
also depend on the particular circumstances prevailing in those
years. At this stage, we are only able to preliminarily estimate