International Financial Reporting Standards (IFRS) | KPMG | LU

International Financial Reporting Standards (IFRS)

International Financial Reporting Standards (IFRS)

The introduction of new IFRSs will affect many industrial sectors and create challenges for many companies.

The introduction of new IFRSs will affect many industrial sectors and create challenges...

With 20 years' experience, KPMG’s IFRS Practice combines a multi-disciplinary approach with extensive knowledge gained from both client projects in Luxembourg and participation in international initiatives. We can assist companies in Luxembourg and internationally in comprehending new rules and applying IFRS to specific circumstances.

Three new major accounting standards (IFRSs 9, 15, and 16) will become effective in the next few years and will have a significant impact on your IFRS financial statements. In October 2017, the European regulator, European Securities and Markets Authority (ESMA), issued its enforcement priorities for 2017 IFRS Financial Statements and one of them is the disclosure of the expected impact of implementing these new standards. Following ESMA's enforcement priorities, the Commission de Surveillance du Secteur Financier (CSSF) also communicated its main areas of focus during their enforcement campaign. Browse this site for relevant information on the new IFRSs by industrial sector.

If you would like an overview of the effective dates for IFRS inside and outside the EU, have a look at our IFRS Calendar. Please find also our Guides to IFRS financial statements.

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