Getting IFRS right is not just about passing audit. It shapes how lenders, investors and tax authorities read your numbers. FinApt Group helps you apply International Financial Reporting Standards correctly, from first-time implementation to ongoing technical accounting questions.
IFRS Implementation
For businesses adopting IFRS for the first time, or moving from another basis of accounting, we manage the transition. That covers opening balance adjustments, accounting policy selection and disclosure requirements.
Financial Statement Preparation
Full IFRS-compliant financial statements, prepared to the standard your auditor, lender or investor expects. That includes the notes and disclosures that go with them.
Technical Accounting Advisory
Guidance on the standards that most commonly trip businesses up in practice:
- IFRS 9: financial instruments, expected credit loss
- IFRS 15: revenue recognition, especially for businesses with complex or multi-element contracts
- IFRS 16: leases, and the balance sheet impact of bringing leases on-book
- Consolidation and group accounting policy questions
Why This Matters Beyond the Audit
IFRS-compliant financial statements are not just an audit requirement. They are the foundation for Qualifying Free Zone Person status under corporate tax, for ICV certification, and for due diligence in a transaction. Getting the technical accounting right the first time avoids rework later. See our external audit services, ICV advisory and corporate tax services.
Why FinApt Group for IFRS Advisory
- Technical positions documented clearly, so they stand up to review by your auditors
- Practical, standard-by-standard guidance rather than generic “IFRS compliance” language
- Senior-led support, with public-sector and multi-sector audit experience on the team
Frequently Asked Questions
Do all UAE companies need to prepare IFRS financial statements?
Most companies preparing audited financial statements in the UAE do so under IFRS. Financial statements are prepared under IFRS, and UAE-licensed auditors then audit them under International Standards on Auditing (ISA). Requirements can vary by free zone authority and entity size, so it is worth confirming for your specific structure.
What’s involved in adopting IFRS for the first time?
First-time adoption involves restating opening balances, selecting accounting policies, and preparing the additional disclosures IFRS requires. This typically happens alongside your first audit under the new basis.
Which IFRS standards cause the most issues in practice?
Revenue recognition (IFRS 15) for businesses with complex contracts, lease accounting (IFRS 16), and financial instruments and expected credit loss (IFRS 9) are the areas that most often need specific advisory support.
Does IFRS advisory relate to my corporate tax position?
Yes. Audited, IFRS-compliant financial statements are a condition of Qualifying Free Zone Person status, so getting the accounting right supports your tax position as well as your audit.