As we fast approach the effective dates for new standards on revenue and financial instruments, and with the new leases standard not far behind, there is plenty of work to be done in a relatively short period of time. Many companies are well into their implementation projects, but equally there are many who still have much work left to do.

The standards require new estimates and often significant judgements to be made; however, the challenge for preparers goes beyond accounting policy choices and developing new systems and processes. There’s also a responsibility to provide investors with timely, relevant information, helping them to understand those judgements and how they will affect the company’s performance measures in the future.

And it’s not just investors who are interested in the impact of the new standards. Regulators and other stakeholders are also paying close attention, with all parties expecting the disclosures on the impacts to become more robust and specific as the effective dates draw closer, putting financial statements for 2016 and 2017 firmly under the spotlight.

Insights into IFRS: An Overview aims to help audit committees to resolve basic issues resulting from the new standards.

You can download the publication here

This handbook articulates the principles underlying the audit committee’s role and provides non-prescriptive guidance to help audit committees gain a better understanding of the processes and practices that help create effective audit committees.

You can download the handbook here