Guam

Financial Reporting Framework in Guam

Companies in Guam follow the US GAAP issued by the Financial Accounting Standards Board (FASB) as the primary source of authoritative literature for financial reporting. As of now, there are still various differences between IFRSs and US GAAP, although convergence efforts are underway in various areas to bring about more similarities between these two frameworks.

Deloitte Southeast Asia Financial Reporting Newsletter

The Deloitte Southeast Asia (SEA) Assurance & Advisory Services Group has published the inaugural issue of a newsletter focussing on financial reporting issues from a Southeast Asia perspective. This newsletter is a collaborative effort among the Deloitte member firms operating in Brunei, Guam, Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam. The newsletter brings together recent updates on financial reporting developments both internationally and within the region, and features topical matters that would be of interest to our clients and our professionals. Many of our clients have asked for more information about the implications from recent pronouncements, industry-specific accounting issues, and differences between IFRSs and local GAAP. This newsletter is directed towards meeting these requests.


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