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IFRS Health Check

IFRS Health Check

From the beginning of 2018, companies will have to apply the new accounting standards on revenue (IFRS 15) and financial instruments (IFRS 9). They are likely to impact the way companies report transactions, conduct business and track various performance measures.

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Partner and Head of Accounting Advisory Services

KPMG Lower Gulf Limited

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The KPMG IFRS Health Check is a simple, online self-diagnostic tool which can help companies understand their potential impact areas under the new accounting standards.

Key benefits: 

The tool can facilitate:

  • Disclosure of the ‘expected accounting policy changes’ and the ‘estimated financial impact of the changes’ to comply with IAS 8 disclosure requirements in the financial statements for year ending 2017
  • Planning for implementation (budget, timeline, service provider, etc.) in 2018
  • Informing stakeholders’ (shareholders, board of directors’ audit committee, banks, etc.) about possible impacts, to avoid last-minute surprises
  • Saves time and cost with a minimal investment 
  • Decision-making in relation to implementation in 2018: impact areas to focus on, engaging consultants, etc.  

Access the tool here and for more information click here.   

© 2018 KPMG, KPMG LLP and KPMG Lower Gulf Limited, registered in the UAE and member firms of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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