International Financial Reporting Standards (IFRS) are standards and interpretations adopted by the International Accounting Standards Board (IASB).
They are a set of international accounting standards stating how particular types of transactions and other events should be reported in financial statements. IFRS are issued by the International Accounting Standards Board.
The movement toward International Financial Reporting Standards (IFRS) as a single set of globally accepted accounting standards is quickly gathering momentum. IFRS is rapidly gaining acceptance around the world, spurring U.S. companies to assess the potential implications of adopting the standards.
To help you meet the challenges of transition to International Financial Reporting Standards, we offer a business-based approach. We work with you to understand the technical accounting complexity of adopting IFRS and update your reporting process accordingly. We also help you to identify and manage any broader impacts to your business.