AASB 7 financial instruments disclosuresHow ready are you? |
The IFRS standard has the capacity to cause year end timetables to be missed as well as significantly raise the stress levels of accounting staff. Let Deloitte help make this a painless transition and implementation that adds relevant and reliable information to your financial statements for the benefit of directors and shareholders.
AASB 7 brings significant additional disclosure to general purpose financial statements. It is much more than simply putting additional words and tables into the financial report – many of the required disclosures will require new models and informational sources previously unused in the preparation of the financial report.
Deloitte can help by providing
- Secondments of our experienced staff to your organisation to lead implementation
- Training for your finance staff on the new requirements and practical ways to effect the required changes
- Reviews of pro forma disclosures, including risk management policies
- Reviews and assistance in preparing models supporting the quantitative disclosures in the financial report
- Audit of comparative disclosures (where we are your external auditor).
We recommend a highly structured transition plan that is executed well before year end.
Contact us to find out how we can help.
