15 Topics
5 Days
Programme Overview
Training Description
Who Should Attend
This course is designed for professionals involved in financial reporting and IFRS compliance, including:
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Chief Financial Officers (CFOs) and Finance Directors
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Corporate controllers, chief accountants, and technical accounting managers
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Financial reporting directors, managers, and senior accountants
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Internal and external auditors reviewing financial statements under IFRS
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Audit committee members and corporate governance leaders
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Financial planning and analysis (FP&A) professionals tracking accounting impacts
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Accounting policy advisors and technical regulatory consultants
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Corporate compliance officers and investor relations managers
Session Objectives
- Understand the latest amendments to existing IFRS standards.
- Learn about new IFRS standards and their implications.
- Interpret and apply IFRS pronouncements accurately.
- Develop effective IFRS implementation strategies.
- Understand disclosure requirements for new and amended standards.
- Assess the impact of IFRS changes on financial reporting.
- Update accounting policies and procedures accordingly.
About the Course
As international accounting standards continually evolve to reflect modern business realities, keeping pace with regulatory updates is critical for accurate reporting and investor trust. The Navigating the Evolving IFRS Landscape: Updates and Implementation training course equips finance and accounting professionals with the comprehensive knowledge and practical strategies needed to interpret and implement the latest International Financial Reporting Standards effectively.
Attendees will master recent standard changes, complex recognition and measurement criteria, disclosure best practices, and seamless transition methodologies. By bridging technical accounting theory with real-world implementation challenges, this program empowers participants to ensure full regulatory compliance, enhance financial statement transparency, and provide reliable insights to key stakeholders.
Curriculum & Topics
15 Topics | 5 Days
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Subtopic 1.1:
Overview of the International Accounting Standards Board (IASB) and its role.
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Subtopic 1.2:
The global landscape of IFRS adoption and its impact.
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Subtopic 1.3:
The IFRS Conceptual Framework and its importance.
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Subtopic 1.4:
The process of developing and issuing IFRS standards.
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Subtopic 1.5:
Key principles of IFRS application.
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Subtopic 2.1:
Detailed review and analysis of recent amendments to existing IFRS standards.
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Subtopic 2.2:
Focus on the practical application of these amendments through case studies.
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Subtopic 2.3:
Understanding the effective dates and transitional provisions.
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Subtopic 2.4:
Implications for comparative financial statements.
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Subtopic 2.5:
Common challenges in implementing amendments.
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Subtopic 3.1:
Introduction to new IFRS standards issued by the IASB.
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Subtopic 3.2:
Understanding the key requirements and objectives of new standards.
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Subtopic 3.3:
Assessing the potential impact of new standards on financial reporting.
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Subtopic 3.4:
Identifying key areas of change and their implications.
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Subtopic 3.5:
Developing a gap analysis to assess implementation needs.
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Subtopic 4.1:
Developing a comprehensive IFRS implementation plan.
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Subtopic 4.2:
Project management methodologies for IFRS implementation.
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Subtopic 4.3:
Setting up a project team and defining roles and responsibilities.
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Subtopic 4.4:
Establishing timelines and milestones.
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Subtopic 4.5:
Managing resources and budgets.
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Subtopic 5.1:
Reviewing and updating accounting policies to align with new and amended IFRS standards.
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Subtopic 5.2:
Documenting accounting policies and procedures.
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Subtopic 5.3:
Ensuring consistency in accounting treatment.
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Subtopic 5.4:
Communicating changes in accounting policies to stakeholders.
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Subtopic 5.5:
Maintaining a robust system of internal controls.
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Subtopic 6.1:
Identifying data requirements for new and amended IFRS standards.
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Subtopic 6.2:
Gathering and analyzing relevant financial data.
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Subtopic 6.3:
Data quality and validation.
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Subtopic 6.4:
Data management systems and tools.
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Subtopic 6.5:
Addressing data gaps and limitations.
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Subtopic 7.1:
Assessing the impact of IFRS changes on IT systems.
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Subtopic 7.2:
Updating accounting software and ERP systems.
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Subtopic 7.3:
Integrating new data requirements into existing systems.
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Subtopic 7.4:
Testing and validating system changes.
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Subtopic 7.5:
Managing IT-related risks.
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Subtopic 8.1:
Understanding the disclosure requirements for new and amended IFRS standards.
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Subtopic 8.2:
Preparing compliant financial statement disclosures.
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Subtopic 8.3:
Communicating IFRS changes effectively to users of financial statements.
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Subtopic 8.4:
Ensuring transparency and completeness in disclosures.
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Subtopic 8.5:
Addressing common disclosure challenges.
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Subtopic 9.1:
Understanding the transitional provisions for new IFRS standards.
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Subtopic 9.2:
Preparing comparative financial statements under the new standards.
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Subtopic 9.3:
Addressing any restatement requirements.
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Subtopic 9.4:
Communicating the impact of the transition to stakeholders.
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Subtopic 9.5:
Managing the transition process smoothly.
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Subtopic 10.1:
Developing training programs for staff on new and amended IFRS standards.
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Subtopic 10.2:
Communicating IFRS changes effectively to internal and external stakeholders.
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Subtopic 10.3:
Building awareness and understanding of IFRS requirements.
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Subtopic 10.4:
Using different communication channels and methods.
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Subtopic 10.5:
Addressing stakeholder questions and concerns.
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Subtopic 11.1:
Assessing the impact of IFRS changes on internal controls.
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Subtopic 11.2:
Updating internal control procedures to ensure compliance.
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Subtopic 11.3:
Identifying and mitigating risks related to IFRS implementation.
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Subtopic 11.4:
Testing the effectiveness of internal controls.
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Subtopic 11.5:
Maintaining a strong internal control environment.
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Subtopic 12.1:
Understanding the audit implications of new and amended IFRS standards.
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Subtopic 12.2:
Working with auditors to ensure compliance.
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Subtopic 12.3:
Preparing for audit procedures related to IFRS implementation.
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Subtopic 12.4:
Addressing any audit findings or recommendations.
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Subtopic 12.5:
Maintaining a strong audit trail.
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Subtopic 13.1:
Exploring IFRS issues specific to different industries (e.g., financial services, telecommunications, real estate).
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Subtopic 13.2:
Understanding industry-specific accounting practices and reporting requirements.
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Subtopic 13.3:
Addressing common IFRS implementation challenges in specific industries.
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Subtopic 13.4:
Sharing best practices for IFRS application within industries.
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Subtopic 14.1:
Discussing emerging issues and future developments in IFRS.
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Subtopic 14.2:
Analyzing the potential impact of future IFRS changes.
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Subtopic 14.3:
Staying up-to-date with the evolving IFRS landscape.
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Subtopic 14.4:
Participating in consultations and standard-setting activities.
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Subtopic 14.5:
Preparing for future IFRS changes.
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Subtopic 15.1:
Analyzing real-world examples of IFRS implementation.
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Subtopic 15.2:
Working through case studies and practical exercises.
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Subtopic 15.3:
Applying IFRS principles to complex accounting scenarios.
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Subtopic 15.4:
Developing implementation plans and strategies.
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Subtopic 15.5:
Sharing best practices and lessons learned.
