The international financial reporting standards (IFRS) have rapidly become internationally accepted accounting standards. By now, IFRS is recommended and has become statutory in more than 100 countries. In Europe, compliance with IRFS was introduced for listed companies IFRS in 2005. Under Dutch law, non-listed companies may also prepare their financial statements under IFRS. As a result, IFRS is by now completely integrated into the system of Dutch financial reporting, also called Dutch GAAP (generally accepted accounting principles).
This fifth edition of ‘IFRSs and NL GAAP — Highlighting the key differences’ provides a summary of key differences between the requirements of IFRSs compared to NL GAAP. This publication does not attempt to capture all of the differences between IFRSs and NL GAAP that may exist or that may be material to a particular company’s financial report.
Deloitte has expertise in specific IFRS areas. Our firm has an integrated approach to different areas of knowledge by different Deloitte professionals in this country and abroad.
Examples where the application of IFRS is important are mergers and acquisitions (IFRS 3), financial instruments and clarification of risks (IAS 39) (FRS 7), pensions (IAS 19), valuation of intangibles and impairment tests (IAS 36/38).
In these consultancy areas, our accountants, financial advisors, valuation specialists, and actuaries cooperate closely (if necessary), not only in the Netherlands but also in other countries. This is what makes Deloitte unique.
The application of IFRS is a complicated and time consuming process. Ongoing publication of new standards by the regulator makes the process even more demanding. Read more. Further reading:
Together with professionals in other countries, Deloitte provides learning opportunities to support you with the application of IFRS in your organisation. First we would like to introduce you to the IFRS courses offered by the Deloitte academy. Under the guidance of professor doctor Ralph ter Hoeven, top specialists inform you on IFRS. Click here for the current programme (only in Dutch).
Do you have a question or do you wish to consult one of our specialists? Do not hesitate to contact us. We will gladly advise you.