Accounting Standards - Ernst & Young - South Africa

Accounting standards more relevant than ever

Global financial markets demand international consistency in accounting and auditing standards and approaches, which was again called for by the world leaders at the 
G-20 Summit in April 2009. More than ever, financial markets also demand responsiveness, clarity and, of course, transparency. Ernst & Young can help you navigate this challenging environment with a range of guidance and services concerning accounting standards.

Many businesses are concerned about the risks and opportunities associated with mandatory conversion from local accounting standards to International Financial Reporting Standards (IFRS). For those that have already converted to IFRS, however, the challenge may be a different one -- keeping up with the gradual maturation of IFRS as the concepts and rules are refined to respond to market conditions. And regardless of whether your business is currently using IFRS or is on the road toward those standards, we understand your concern regarding managing your accounting and reporting responsibilities in times of unprecedented financial turmoil.

With resources ranging from our Global IFRS Services Center to technical accounting professionals in 130 countries, Ernst & Young can help your business navigate -- and thrive -- in this environment.