Air Canada 2010 Annual Report Download - page 60

Download and view the complete annual report

Please find page 60 of the 2010 Air Canada annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 144

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144

2010 Air Canada Annual Report
60
Key Activities Status
Business activities
Compensation arrangements
Identification of impact on compensation arrangements. The Corporation has analyzed its compensation
policies that rely on indicators derived from the
financial statements and has implemented the
appropriate changes.
Control activities
Internal control over financial
reporting
For all accounting policy changes identified, assessment of
Internal Controls over Financial Reporting (“ICFR”) design and
effectiveness implications.
The Corporation is in the process of finalizing
its analysis of any issues with respect to ICFR,
including the implementation of appropriate
changes in internal controls as required to handle
changes in accounting policies and practices as
described below.
Control activities
Disclosure controls and
procedures
For all accounting policy changes identified, assessment of
Disclosure Controls and Procedures (“DC&P”) design and
effectiveness implications.
The Corporation is in the process of finalizing its
analysis of any issues with respect to DC&P and
has not identified any areas where substantive
changes to procedures are required.
First time adoption of IFRS
With regard to IFRS transition, the Corporation has largely completed its analysis on the optional exemptions available
under IFRS 1. IFRS 1 provides entities adopting IFRS for the first time with a number of optional exemptions and mandatory
exceptions, in certain areas, to the general requirement for full retrospective application of IFRSs. The decisions about the
optional exemptions available under IFRS 1 may be subject to change based on changes in circumstances.