CLA Emirates provides IFRS advisory in UAE. Companies should settle accounting questions before they become audit issues. We write technical positions, assess new standards, design group accounting policy and support finance teams through adoption and transition.
Understanding IFRS
IFRSs are the International Financial Reporting Standards issued by the International Accounting Standards Board, setting how transactions are recognised, measured, presented and disclosed in financial statements.
The standards are principles-based, which is precisely why judgement is required. Two companies in the same sector can reach different, equally defensible conclusions on revenue timing or lease classification — and both need a documented rationale their auditor can accept.
