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Advise on the application of IFRS

Advise on the application of IFRS

Providing consulting services on the interpretation of certain IFRS and their correct application for accounting.

Advisory services on the interpretation of individual IFRSs and their correct application.

Essential Services

The scope of this service includes consulting services to assist with interpreting different areas of IFRS guidance and the proper application of standards for accounting and preparing statements.

 

Details

  • KPMG analyses topical accounting issues and provides advice on various different areas of IFRS guidance, taking into account the industry specifics of your company. We provide commentary on the proper recognition of separate transactions under IFRS (including recommendations on the application of new standards, such as IFRS 9 ‘Financial instruments,‘ IFRS 15 ‘Revenue from contracts with customers‘, IFRS 16 ‘Leases‘, etc.)
  • We provide methodological support for preparing IFRS methodologies and models.
  • For the purposes of applying IFRS 16 ‘Leases’ – KPMG analyses lease agreements, developing and completing a personalised template for calculating right-of-use assets and lease liabilities.
  • We help align accounting policies with IFRS requirements and analyse the tax implications of adopting new standards.
  • KPMG also provides corporate training sessions to support the proper application of IFRS.

 

Benefits and Opportunities

  • Your company gets high-quality and professional assistance in applying IFRS, resolving complex accounting and reporting issues, so as to enable you to make appropriate and timely management decisions.
  • Your company will learn how IFRS and their interpretation affect its financial statements.
  • Your company receives expert opinion from KPMG specialists on IFRS issues and strengthens its approach to audit processes.

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