By adopting International Financial Reporting Standards (IFRS^® Standards), Australia is delivering more transparent financial information for shareholders and regulators.

Australian accounting standards are based on IFRS Standards. While there has been some debate around certain standards, overall the transparency of financial results has been important to users in managing their way through the global financial crisis and the volatility resulting from ongoing disruptions.

Of course, accounting standards continue to evolve. Understanding and keeping up with on-going revisions and amendments is an important responsibility for commercial entities.

Seeking professional advice will ensure you are well informed and prepared for the developments in accounting and reporting practice that are most relevant to you.

How we can help your financial reporting

KPMG has extensive experience in applying Australian accounting standards to a range of transactions.

We provide pragmatic and commercially focused advice on the application of accounting standards to ‘real-world’ issues. Our professionals can assist with areas including: financial instruments, impairment of assets, recognition of revenue, consolidation of business entities and financial statement presentation.

KPMG also has a range of publications dealing with financial reporting as well as the implications of changing accounting standards in Australia.

We offer high-level technical capabilities, a client focused culture and access to a global network of respected accounting professionals. Our advice is clear, concise and relevant.