Expanding globally? We ensure your financial statements meet international standards and investor expectations.
Overview
Ensure your financial statements comply with International Financial Reporting Standards (IFRS). Our IFRS experts help you implement and maintain IFRS-compliant accounting practices.
What We Offer
Key Benefits
- Global accounting standards compliance
- Enhanced financial transparency
- Improved investor confidence
- Better comparability with international peers
- Facilitated access to international capital markets
Our Process
Gap analysis between current and IFRS standards
Development of conversion roadmap
Implementation of IFRS policies
Training and knowledge transfer
Ongoing IFRS compliance support
Why This is Important
International Financial Reporting Standards (IFRS) are the global language of business accounting. For companies seeking international investment, planning IPOs, or operating across borders, IFRS compliance is essential. Many investors, lenders, and partners require IFRS-compliant financial statements for transparency and comparability. IFRS also provides a more accurate picture of your business through fair value accounting, comprehensive disclosures, and standardized reporting. Without IFRS expertise, businesses risk misstatements, audit qualifications, and loss of investor confidence. Professional IFRS advisory ensures your financial statements meet global standards and support your growth ambitions.
How We Can Help You Better
Complete IFRS conversion from local accounting standards
IFRS-compliant financial statement preparation
Complex IFRS implementation (IFRS 15, IFRS 16, IFRS 9)
Impairment testing and fair value assessments
Revenue recognition under IFRS 15
Lease accounting under IFRS 16
Training and capacity building for your finance team
Ongoing IFRS updates and technical support
Frequently Asked Questions
Q1.Is IFRS mandatory in the UAE?
IFRS is not mandatory for all UAE companies, but it is required for listed companies, banks, insurance companies, and companies in certain freezones. Many other businesses adopt IFRS voluntarily to attract international investors or prepare for future growth and expansion.
Q2.What is the difference between IFRS and local UAE accounting?
IFRS is more comprehensive and principle-based, requiring extensive disclosures and fair value measurements. Local UAE accounting may follow simpler, cost-based approaches. IFRS provides greater transparency and comparability with international peers, which is crucial for investors and lenders.
Q3.How long does IFRS conversion take?
IFRS conversion typically takes 3-6 months depending on business complexity, transaction types, and current accounting practices. The process includes gap analysis, policy development, data conversion, parallel runs, and team training. We work with you to minimize disruption.
Q4.What is IFRS 16 and how does it affect my business?
IFRS 16 is the lease accounting standard requiring most leases to be recognized on the balance sheet as right-of-use assets and lease liabilities. This significantly impacts companies with operating leases (office space, equipment, vehicles), affecting key financial ratios and metrics.
Q5.Can you help with IFRS for specific transactions?
Yes, we provide advisory on complex IFRS transactions including business combinations, revenue recognition for multi-element arrangements, financial instruments, impairment testing, and more. We can support one-off transactions or ongoing IFRS compliance.
Ready to Get Started?
Contact us today to discuss how we can help your business.
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