Navigating the changes to International Financial Reporting Standards: A briefing for Chief Financial Officers

Financial Reporting Standards

December 18, 2015

The Grant Thornton International Ltd (GTIL) IFRS Team has issued the 2015 edition of its publication Navigating the changes to International Financial Reporting Standards: A briefing for Chief Financial Officers. The publication is designed to give CFOs a high-level awareness of recent changes that will affect companies' future financial reporting. It covers both new Standards and Interpretations that have been issued and amendments made to existing ones, giving brief descriptions of each.

Whats new in the 2015 edition?

The December 2015 edition of the publication has been updated for changes to IFRS that have been published between December 1, 2014 and November 30, 2015. The publication now covers March 31, 2015, June 30, 2015, September 30, 2015, December 31, 2015 and March 31, 2016 financial year-ends.

Identifying the commercial significance of the changes in the publication

For each change covered in the publication, we have included a box on its commercial implications. These sections focus on two questions:

  • How many entitles will be affected?
  • What will be the impact on affected entities?

A traffic light system indicates GTIL IFRS Team's assessment of the answers to these questions.

How to use the publication

  • changes mandatorily effective for the first time
  • changes not yet effective
  • changes already in effect

See attached document for the details of this publication.

Questions about this communication should be referred to Mabel Comedia, Sonny Lalunio or Jerald Sanchez.