Groups that are listed are required to produce their year-end consolidated and interim financial statements in accordance with International Financial Reporting Standards (IFRS) as endorsed by the EU.
It is also becoming increasingly common for non-listed companies to choose to prepare their financial statements in accordance with IFRS if:
- a listing is intended to take place in the future;
- Shareholders have requested it;
- They are an international group.
Among our case histories:
- A group is considering converting to IFRS for the first time. We can assist with the transition from local GAAP to IFRS, identifying the precise implications of the changes and adjustments required for first time adoption on the financial statements, as well as all the disclosures necessary for the preparation of the full financial statements.
- Changes in accounting standards through the introduction of new IFRSs or revision to existing ones, can lead to significant impacts on the financial statements of a company or group. We can help you understand and prepare for the changes in accounting standards and the impact that they can have on reported results, tax, distributable reserves and the wider impact on your business.
