IFRS Services

IFRS is the accounting language of the world. Embrace it to open the doorway to global opportunities!

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    International Financial Reporting Standards (IFRS) – what was earlier known as the International Accounting Standards (IAS) was founded with the objective of developing a global set of accounting standards in order to facilitate uniformity in financial reporting between countries so as to achieve transparency, accountability and credibility at the global level. Today, more than 140 countries around the world have made it mandatory to comply with IFRS. Almost every business in the UAE with a statutory financial reporting requirement has to comply with IFRS. The increasing complexity of IFRS amidst rapid pace of changes has led to significant increase in demand for expert IFRS advise. Our IFRS Team will help businesses navigate through IFRS complexities by conducting a thorough assessment of the impact of IFRS on the company’s revenue, expenses, assets and liabilities.

    Why work with us?
    • IFRS subject matter experts.
    • Constantly updated with the latest IFRS changes
    • Experienced with handling complex IFRS matters

    Our services include:

    IFRS Implementation & Advisory
    IFRS Policy & Manual Documentation
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    IFRS Implementation & Advisory

    The First – Time Adoption of IFRS can be extremely challenging and time consuming. Our IFRS Team aligns the entire process to include the following steps : impact assessment, planning and designing, realization and data conversion. We not only see the implementation of IFRS as a process of changing accounting policies of a company, but we go beyond to include significant efforts around the creation of IFRS manual & policies, the modifications of systems and training of personnel to align with IFRS requirements. As the IFRS Framework allows for the adoption of principal – based approach towards the selection of accounting policies we also advise companies to ensure that the best options are selected to their advantage.

    IFRS Policy & Manual Documentation

    As part of our ongoing efforts for knowledge sharing and to implement best accounting practices in companies, we provide IFRS Policy & Manual Documentation services in the form of Standard Operating Procedures (SOPs) wherein we study the unique circumstances surrounding each entity and determine how certain specific and complex IFRS will have an impact on their operations, evaluate and document the best possible course of action for the company to follow in order to be compliant with specific IFRS. Our core expertise in these areas is in IFRS 9 – Financial Instruments, IFRS 15 – Revenue from Contracts with Customers, IFRS 16 – Leases, IFRS 17 – Insurance Contracts and much more.

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    Get in touch with us for a free consultation!

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