January 2016

Overview

The Grant Thornton International IFRS team has published the 2015 edition of Navigating the changes to International Financial Reporting Standards: A briefing for Chief Financial Officers. This publication has been designed to give chief financial officers a high-level awareness of recent changes that will affect companies’ future financial reporting.

This publication covers both new standards and interpretations that have been issued and amendments made to existing ones, giving brief descriptions of each.

Navigating the changes – what’s new?

The 2015 edition of this publication has been updated for changes to International Financial Reporting Standards (IFRS) that have been published between December 1, 2014 and November 30, 2015 and now covers the following financial year-ends:

  • March 31, 2015;
  • June 30, 2015;
  • September 30, 2015;
  • December 31, 2015;
  • March 31, 2016.

This publication has been designed to help entities planning for a specific financial reporting year-end identify changes mandatorily effective for the first time, changes not yet effective and changes already in effect.

For each change included in the publication, there is also a box on its commercial implications indicating how many entities will be affected and what the impact on these affected entities may be. A traffic light system indicates the assessment of the answers to these questions.

Resource

Navigating the changes to International Financial Reporting Standards: A briefing for Chief Financial Officers follows this Adviser alert.