Notes to Consolidated Financial Statements 18. COMPARATIVE FIGURES [in thousands of Canadian dollars, except per share amounts] IFRS 13  Fair Value Measurement  establishes the definition of fair value and sets out a single IFRS framework for measuring fair  value and the required disclosures. IFRS 9  Financial Instruments  (“IFRS 9”) will replace IAS 39  Financial Instruments :  Recognition and Measurement  (“IAS 39”). IFRS 9  uses a single approach to determine whether a financial asset is measured at amortized cost or fair value, replacing the multiple  rules in IAS 39. The approach in IFRS 9 is based on how an entity manages its financial instruments in the context of its business  model and the contractual cash flow characteristics of the fi nancial assets. The new standard also requires a single impairment  method to be used, replacing the multiple impairment methods in IAS 39. Certain comparative figures have been reclassified to conform to the consolidated financial statement presentation in the  current year. 87 December 31, 2012 and 2011