The preparation of financial statements in accordance with International Financial Reporting Standards (IFRS) is challenging.
In light of the latest conflict in Ukraine, including the introduction of wide-ranging sanctions against certain Russian companies and individuals, entities need to carefully consider the accounting implications of this situation.
The International Accounting Standards Board (IASB) has released a narrow scope amendment to the transition requirements in IFRS 17 ‘Insurance Contracts’.
Many businesses across the world are struggling to come to terms with the economic damage wreaked by Covid-19.
Guernsey’s pandemic response has been admirable, but lockdown will increase pressure on businesses.