The member firms within Grant Thornton International Ltd (GTIL) have extensive expertise in the application of IFRS. GTIL, through its IFRS team, develops guidance that supports its member firms’ commitment to high quality, consistent application of IFRS and is pleased to share these insights by publishing ‘Example Interim Consolidated Financial Statements 2020'.
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Other Disclosure
The firm has rotated out as the independent auditor of ACLEDA BANK PLC. after completing the statutory audit of the Group’s and Bank’s financial statements as...
IFRS
Interim consolidated financial statements 2020
Publication
Retail: navigating the impact of COVID-19
The retail industry is currently in a period of disruption unique in its scale and severity. The global outbreak of COVID-19 has impacted parts of the industry in different ways. While businesses in the grocery sector grapple with supply chain issues, those selling consumer goods and apparel have been challenged by store closures and rapid growth of online sales.
PROFESSIONAL SERVICES
Embracing agile working
Professional services firms will have no doubt conducted numerous surveys among employees in recent months to gauge wants and expectations post-COVID. For most, the message has been resounding…
INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS)
IFRS - Alternative performance measures
Preparers of financial statements are now having to think about how, where and what form they should report COVID-19 in their financial statements. We believe it is important to not only comply with the guidance set out in IFRS, but also ensure the financial statements are an effective part of the wider communication with stakeholders.
Tax
Six key tips for transfer pricing in 2020
Drawing on the TP issues raised by our clients from around the world, our TP experts highlight the dilemmas your business could face in determining arm’s length transfer prices, the ramifications and potential risks. We conclude by setting out six practical ways to navigate through the TP minefield.
Prakas No. 563 MEF.Prk
Prakas on the obligation of having financial statements independently audited
Prakas on the obligation of having financial statement independently audited
PROFESSIONAL SERVICES
Adapting to a digitised world amid COVID
Professional services as an industry needs to turn the Software-as-a-Service (SaaS) model on its head in order to overcome the current COVID-driven climate, and to finally veer away from the rigid hourly model that has engulfed the sector for so long.
NAVIGATING UNCERTAIN TIMES
Cash management in stressed conditions
Put cash management and forecasting at the centre of your resilience plan, optimising your agility and helping you react to rapid change.
INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS)
Impairment of intangible assets and goodwill
The business and operations of many entities have already been seriously affected by the rapid global spread of COVID-19 and related government actions. Unfortunately, many businesses will continue to be affected for some time. This has consequences for their value and the value of many of their commercial assets.
IFRS
2020 deferred tax provision
The COVID-19 pandemic is having a tremendous impact on the world’s economy. Many businesses are struggling to stay afloat and doing whatever they can right now to rationalise costs and preserve any cash surpluses they have in order to bridge future cash flow needs. Around the world, governments are stepping in to try and limit the impact of the pandemic by providing financial support in numerous ways from direct cash payments through to the deferral of tax payments.
INTERNATIONAL FINANCIAL REPORTING STANDARDS
Reporting the impact of COVID-19
As the impact of a novel strain of coronavirus (COVID-19) continues to unfold around the world, those individuals responsible for preparing financial statements and approving them for issue need to be cognisant of not only what has happened and is happening at the reporting date and the time the financial statements are approved, but also what is likely to happen next.