While private companies' conversion to IFRS will be similar to that of public companies in many ways, it will also present some unique challenges.
IFRS and Private Companies [1] | Source: The Big Fat Finance Blog [2].
Links:
[1] http://bigfatfinanceblog.com/2009/06/12/ifrs-and-private-companies/
[2] http://bigfatfinanceblog.com