Assisting Clients in the Transition to IFRS

There are many areas where the auditor can assist clients in the transition to IFRS. Such assistance may include: IFRS training for client staff; commenting on areas where changes in accounting policy or disclosure are likely; assisting with preliminary diagnosis of the impact on financial reporting and accounting systems; providing technical advice on IFRS standards; discussing transition project scope and governance issues; and providing assurance services on internal IFRS financial statements. (Read about Assurance Issues in the latest issue of CAmagazine.)