Understanding the opportunities and challenges that could impact your business through the new IFRS accounting standards.
Whether you report under International Financial Reporting Standards (IFRS) or US GAAP, you are likely to be facing significant changes in reporting requirements as you assess the impact of new standards for revenue recognition, financial instruments and lease accounting. And these changes are not just impacting organizations reporting under IFRS and US GAAP – many national accounting standard setters are also aligning local standards to IFRS.
By responding to these changes strategically, there may also be an opportunity for companies to review IT, systems, processes and controls, and perhaps even a transformed operating model.
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The EY CFO Agenda
Why you should prepare to ACT on enhancing your business
The new revenue recognition standard has taken effect for public companies, and can mean adjusting policies, systems, processes and controls.
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