Keeping Up-to-Date with IFRS Developments
IFRS (International Financial Reporting Standards) has to frequently change to keep up with the world’s demands. The International Accounting Standards Board (IASB) sometimes issues new accounting standards to supersede existing ones, or change existing ones to clarify requirements or iron out inconsistencies. Be sure to regularly check the IASB’s website to keep up to date with developments. Attendance at relevant CPD courses also helps you flag up any changes to standards that are on the cards.