The International Accounting Standards Board (“IASB”) based in London is responsible for issuing International Financial Reporting Standards (“IFRS”) that are intended to be the common accounting standard on a worldwide basis.
As such, work is constantly in progress in order to enable unification with other accounting standards, in particular United States Generally Accepted Accounting Principles (“US GAAP”) and is a reason behind several new IFRS pronouncements and why IFRS has been changing at such a fast pace.
With International Financial Reporting Standards (“IFRS”) changing so frequently, many companies may find themselves falling behind and our IFRS consultations are a one-off engagement designed to assess whether the accounting policies of a company are in compliance with IFRS.
As IFRS generally takes a “principles-based” approach, there is much judgment involved in the application of certain accounting policies leading to guidance on implementation with practical experience critical to ensure proper and accurate implementation of IFRS pronouncements.
Fully Accredited and Recognized National and International Assurance Provider
Our commitment to deliver the highest quality assurance services is drawn on over 35 years of local experience in the United Arab Emirates and our international capabilities of BKR International, and involves utilizing the most modern techniques and necessitates a continually updated breadth of knowledge on evolving international standards.
As one of the first established public accounting firms in the United Arab Emirates, we have an established reputation in the market for our emphasis on providing quality professional services and are approved and recognized auditors with all government agencies in the UAE, including the major free zones across the United Arab Emirates, such as being an approved auditor by the Dubai International Financial Centre (“DIFC”) and other free zones, from Abu-Dhabi to Fujairah.
We are also an approved auditor with the all national and international financial institutions in the United Arab Emirates with a well-diversified client portfolio across all industries.
In addition to providing guidance on whether a company’s accounting policies are in compliance with IFRS or to provide advisory on the implementation of a particular IFRS standard, we may also be engaged to implement a tailored complete accounting policy manual for a company with continued guidance on the operational factors influencing the ERP system.
Please refer to the Contact Us page for more information.