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International Financial Reporting Standards

The challenge of International Financial Reporting Standards (IFRS) requires an entity-wide holistic approach to financial reporting. Our focus is on providing IFRS assistance and advice to our clients that is not only technically correct, but also practical and commercially astute.

Having traversed the latest wave of IFRS in 2009-2010, companies need to prepare for the next wave of changes being prepared the International Accounting Standards Board (IASB). By June 2011, new standards are expected to be finalised in key areas - including financial instruments, leases, revenue recognition, consolidation and insurance contracts. 

Entities need to understand these changes, design flexible systems and processes to handle their introduction and ensure that their voice is heard through the cacophony of opinion.

Highlights

  • Leasing - gearing up for change
    Read our 'CFO Brief' publication, tailored especially for CFOs and finance executives and providing an easy to read look at the financial and commercial issues arising from the changes to the accounting for leases from the perspective of the lessee.
  • Financial instruments reform – have you read it properly?
    The IASB Chairman once quipped “If you understand IAS 39, you haven’t read it properly”. Will the fast-tracked IAS 39 replacement project fix the problem?
  • Income taxes - give to Caesar, what about the IASB?
    Some say the tax return is ‘the easy bit’. Deferred tax accounting continues to cause heartburn years after the transition to IFRS. In addition, a newfound angst surrounding uncertain tax positions is emerging
  • A new revenue driver – the balance sheet never looked so good
    The IASB is turning revenue recognition on its head by looking at the balance sheet – a focus often resulting in revenue deferral

Contact us

  • Anna Crawford l Partner, Deloitte
    Accounting technical
    Key contacts
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More Latest developments

  • CFO Brief - Gearing up for change: New lease accounting proposals
  • Income taxes – give to Caesar, but what about the IASB?
  • Financial instrument reform – have you read it properly?
  • A new revenue driver – the balance sheet never looked so good
  • What's new in the June 2009 financial reporting cycle?

Related resources

  • Monthly Roundup
    Monthly summary of key financial reporting developments.
  • IAS Plus
    Our IAS Plus website provides the most comprehensive information on the Internet about international financial reporting.

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