Financial reporting advisory

The world of accounting and financial reporting is continually changing and growing in complexity, particularly with regard to the publication, in the UK, of the Financial Reporting Standards (FRS) 101 Reduced Disclosure Framework and 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland that have replaced old UK GAAP from 2015, and, internationally, of the International Financial Reporting Standards 15 Revenue from Contracts with Customers and 9 Financial Instruments.

Mazars’ specialist Financial Reporting Advisory team helps companies interpret and apply accounting and financial reporting standards, including IFRS, UK GAAP (including FRS 102) and US GAAP through flexible and tailored support.

Our team has strong technical expertise in a wide variety of challenging accounting, financial and narrative reporting matters and assists with both small and large projects.

As well as interpretation and application advice on accounting and financial reporting standards, we also advise on:

  • Accounting for share option schemes, including share option valuations, under IFRS 2/ASC 718 and FRS 102
  • Accounting for business combinations, including intangible asset valuations and impairment reviews, under IFRS 3/ASC 805 and FRS 102
  • Financial instruments, under IFRS 9 and FRS 102
  • Narrative reporting
  • Revenue recognition for specific industries, under IFRS 15 and FRS 102

Our team also has significant technical training experience to provide tailored courses to guide finance teams through the complexities of new accounting requirements under IFRS and FRS 102.

As a firm we pride ourselves on technical excellence. Our clients have direct access to our experts through our Financial Reporting Advisory team. Use the menu below to learn more about our services.

New UK GAAP

The financial reporting and accounting requirements in the UK and the Republic of Ireland have fundamentally changed as a result of the Financial Reporting Council (FRC) issuing the new Financial Reporting Standards 100, 101 and 102. These three new FRSs have replaced the old FRSs, SSAPs and UITFs previously in issue (“old UK GAAP”) from 2015.

IFRS for Small and Medium-sized Entities (SMEs)

The IFRS for SMEs was published by the International Accounting Standards Board (IASB) in 2009 in order to provide a simplified and self-contained standard to meet the needs and capabilities of international smaller and medium-sized entities that do not operate in capital markets.

Accounting and financial reporting advice

With continual changes and growing complexity of accounting and financial reporting requirements, combined with increasing scrutiny from regulators and investors, there is an ongoing need to ensure financial reporting compliance. In addition, many companies encounter accounting and financial reporting issues arising from carrying out complex transactions, achieving business growth and changing organisational and financial structure.

Training and seminars

Accounting and financial reporting continues to change and grow in complexity, and this is a trend that does not seem likely to reverse with the issuance of FRS 100, 101 and 102, in the UK, and IFRS 15 Revenue from Contracts with Customers and 9 Financial Instruments, internationally. We can help raise awareness of recent and planned developments to accounting and financial reporting standards and address the issues that are applicable to your business.

Narrative reporting

In addition to the financial statements, the amount and importance of information in other parts of the annual report has grown substantially in recent years.

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