ISA Audits & IFRS reporting – Overview

The move to International Financial Reporting Standards (IFRS) is the single most important initiative in the financial reporting world that companies are facing to date.

The impact of IFRS stretches far beyond accounting to affect key business decisions, not just how IFRS is reported for companies. Access to up-to-date materials, knowledge, insights and timely advice is essential for companies across the world as IFRS is adopted in many more countries, therefore consistent interpretation and application becomes even more vital.

We here at PKFI have developed global resources, access to people with an in depth knowledge of IFRS to provide you with the benefit of our broad experience in IFRS related issues.

The IFRS Zone is aimed at providing information as to the planned dates of IFRS conversion for countries around the globe, to help you understand the key IFRS developments affecting your company, on line training on IFRS and access to a wide range of IFRS resources to help you in preparation of IFRS financial statements and understanding new and proposed standards and how they may affect your company:

The supporting sub-sections within the IFRS resource tool include a local GAAP vs. IFRS overview for many countries that are converting to IFRS in the near future, and a suggested conversion methodology and how PKF member firms can help you with this (please go to Accounting advisory services). Accounting updates to help you understand key accounting developments. The latest illustrative financial statements template is provided to help guide you with the layout of IFRS financial statements and we are also able to provide you with a computerised IFRS disclosure checklist which tailors the checklist to your requirements for a cost.

For more information follow ISA Audits & IFRS reporting – Overview

The authors expressly disclaim all and any liability and responsibility to any person, entity or corporation who acts or fails to act as a consequence of any reliance upon the whole or any part of the contents of this publication.

Accordingly no person, entity or corporation should act or rely upon any matter or information as contained or implied within this publication without first obtaining advice from an appropriately qualified professional person or firm of advisors, and ensuring that such advice specifically relates to their particular circumstances.

PKF Cyprus firms are member firms of the PKF International Limited network of legally independent firms and do not accept any responsibility or liability for the actions or inactions on the part of any other individual member firm or firms.