AASB 7 financial instruments disclosures
How 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.