Adviser alert – January 2018

A briefing for Chief Financial Officers

The Grant Thornton International IFRS team has published the 2017 edition of Navigating the changes to International Financial Reporting Standards: A briefing for Chief Financial Officers. This publication has been designed to provide chief financial officers high-level awareness of the recent changes that will affect companies’ financial reporting in the future.

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

Navigating the changes – What’s new?

The 2017 edition of this publication has been updated for changes to International Financial Reporting Standards (IFRS) that have been published between December 1, 2016 and November 30, 2017 and now covers the following financial year-ends:

  • March 31, 2017;
  • June 30, 2017;
  • September 30, 2017;
  • December 31, 2017;
  • March 31, 2018.

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, commercial implications are outlined with information on how many entities will be affected, and potential impacts on such entities. A traffic light system indicates the assessment of the answers to these questions.