IFRS – International Financial Reporting Standards

Related Services

Capital Markets & Accounting Advisory Services | Pre & post deal reporting | IPO Advisory Services | Accounting policies & Financial statements | GAAP Conversies

Regulatory authorities are introducing new financial reporting standards which may have a significant impact on your company's financial reporting. In many cases, these new standards require adjustments to operational processes, such as closing and reporting processes, to (financial) IT systems and the internal and external financial reports and also unlocking of new data.

Increasing complexity and the constant change in regulations set high demands on your employees, making training and support essential. Some issues you may encounter when transitioning to and implementing new financial reporting standards:

the correct and complete assessment of the effects of new standards with regard to financial instruments (IFRS 9), revenue recognition (IFRS 15), lease accounting (IFRS 16) or insurance contracts (IFRS 17);

planning and preparing the implementation of a new reporting standard;
implementing the new standard in the (financial and operational) IT systems; and
supporting the broader business implications, for example in the field of tax, HR, financing, internal control and management information.

Contact

We can help you with the implementation of the new reporting standards in your financial reporting and business processes, such as – as mentioned above – IFRS 9 Financial Instruments, IFRS 15 / ASC 606 Revenue from contracts with customers, IFRS 16 / ASC 842 Leases, and IFRS 17 Insurance contracts.

For more information, please do not hesitate to contact Ruben Rog, partner Capital Markets and Accounting Advisory Services.

You can also contact one of our IFRS specialists.