Implementation of IFRS in the UK, Italy and Ireland

The Institute of Chartered Accountants of Scotland (ICAS) has published a report on The Implementation of IFRS in the UK, Italy and Ireland. The report examines: the resultant changes in financial reporting, in terms of the additional disclosures and the impact of IFRS on profit and equity; the costs involved in implementation of IFRS; the most problematic international accounting standards for adopters; and the usefulness of the resulting IFRS information from the perspective of preparers and users.

Read the Executive Summary or the Full Report available on the ICAS website. In addition, learn about the importance of applying professional judgment when preparing or auditing IFRS-based financial reporting.