International Financial Reporting Standards in Australia

Australian International Financial Reporting Standards apply to most businesses that produce financial reports. In order to operate efficiently in the IFRS regime, entities need to have a sound grasp of the international standards and an understanding of the upcoming financial reporting developments that are likely to impact on their business.

How PwC can help

PwC has a global network of consultants who are experts in dealing with International Financial Reporting Standards. The group consists of IFRS specialist technical partners and staff who have been tasked with ensuring the consistent interpretation of IFRS. This is achieved by:
  • Contributing to the improvements of accounting guidance by the standard-setting bodies

  • Delivering Financial Reporting Update (FRU) events throughout Australia, to bring Australian entities up-to-date with recent changes to the reporting requirements, raise awareness of problem areas in practice and highlight upcoming news from the standard-setters

  • Delivering insight into financial reporting issues through practical and timely newsletters and publications

  • Working with Australian entities to resolve specific, complex technical issues.