UK companies listed on an EU regulated market (for example the Main Market of the London Stock Exchange), and AIM companies incorporated in an EEA country, must prepare their annual reports in accordance with International Financial Reporting Standards (IFRS).
In addition, many privately owned companies choose to adopt IFRS reporting for a variety of reasons.
At Saffery, we provide a range of IFRS compliant accounting and advisory services to companies or groups who work to International Financial Reporting Standards. Specifically, we can assist with:
- Preparation of IFRS reporting to include financial statements and annual reports.
- Preparation of interim financial statements under IAS 34 and /or AIM rules.
- Impact assessments both on first time transition to IFRS and upon adoption of a new IFRS standard.
- Advisory on specific complex transactions reported under IFRS, for example upon acquisitions, construction of assets or new revenue contracts.
- Technical papers to support companies with their financial reporting and external audit requirements.
- Share option accounting assistance in accordance with IFRS 2.
- FRS 101 reporting assistance for qualifying companies.
- IFRS assistance in support of IPOs and wider corporate transactions.
Our experts advise clients across a wide range of sectors, including real estate, natural resources, professional and financial services, life sciences and manufacturing.
International Financial Reporting Standards are detailed and extensive. In our Bitesize IFRS Knowledge Library we highlight the key issues for your financial reporting team to consider.
- IAS 2 Inventories.
- IAS 7 Cash flow statement.
- IAS 20 Government grants.
- IAS 40 Investment property.
- IFRS 1 Applying IFRS for the first time.
- IFRS 2 Share based payments, including share options.
- IFRS 3 Acquisitions and business combinations.
- IFRS 15 Revenue.
- IFRS 16 Leases.
- IFRS 16 Covid-19 related rent concessions.
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