Audit issues arising from first-time adoption of IFRSs
07 Sep 2004
To help auditors address reporting issues arising from the first-time adoption of International Financial Reporting Standards, the staff of the International Auditing and Assurance Standards Board (IAASB) of the International Federation of Accountants (IFAC) along with staff of professional accountancy bodies, national standard setters, and audit firms have prepared a series of key questions and answers.
IFAC has published the Q&As in a document entitled First Time Adoption of IFRSs – Guidance for Auditors on Reporting Issues. Click to download:
- IFAC Press Release (PDF 83k)
- Q&A Booklet on IFRS Audit Issues (PDF 283k)