International Financial Reporting Standards (IFRS)

Our member firm IFRS advisers can help you navigate the complexity of the Standards so you can focus your time and effort on running your business.

The International Financial Reporting Standards (IFRS), are a set of global accounting standards developed by the International Accounting Standards Board for the preparation of public company financial statements. With well over 100 countries using them, they are fast becoming the global accounting language.

Using IFRSs can help increase the quality, comparability and transparency of your financial information. Applying them correctly will increase your company's credibility and improve access to credit and investment opportunities.

The Standards are very detailed and technical. To the untrained eye, they can appear hard to navigate. But at Grant Thornton, we have people who are very well versed in their intricacies and can translate them into language that you can understand and apply to your financial statements.

To help you navigate the complexity of the standards, a selection of related content is included below. To view all of our IFRS insights please click here

Our International Financial Reporting Standards (IFRS)

IFRS 17 – Insurance contracts

IFRS 17 ‘Insurance Contracts’ represents the culmination of a twenty year project by the International Accounting Standards Board (IASB) to improve the comparability of companies that issue insurance contracts.

Leasing – A new era of accounting under IFRS 16

The Standard brings fundamental changes to lease accounting that replace previous accounting that is considered no longer fit for purpose.

Accounting for Revenue under IFRS 15

June 2014 marked a landmark achievement when the International Accounting Standards Board (IASB) issued IFRS 15 ‘Revenue from Contracts with Customers’.

Corporate reporting – Financial Statements

Preparing your financial statements under IFRS International Financial Reporting Standards (IFRS) is challenging for any business.

Mergers and acquisitions

Mergers and acquisitions (business combinations) can have a fundamental impact on the acquirer’s operations, resources and strategies.

Financial instruments - IFRS 9 guidance

All businesses hold financial instruments in some form, from cash and trade receivables at the simplest end of the scale to complex derivatives at the other.