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IFRS vs Reality: When Standards Meet Practice
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IFRS vs Reality: When Standards Meet Practice
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IFRS has been with us for more than 20 years, but has it really changed financial reporting in practice?
In this episode of Financial Reporting Conversations, Wayne Basford and Judith Leung are joined by James Scott from JD Scott & Co. to unpack the IFRS Practice Gap: the difference between what the standards say and what companies actually produce.
🎧 In this episode, you’ll learn:
Why IFRS can still become a compliance exercise
- How revenue, consolidation, leases, and business combinations go wrong in practice
- Why technical accounting knowledge is often missing when it matters most
- How preparers, auditors, and regulators all shape the IFRS Practice Gap
Financial Reporting Conversations is brought to you by Basford Consulting helping professionals go beyond compliance and get financial reporting right.
For technical insights, training, and resources that make the unknowns in financial reporting known, visit basfordconsulting.com
🔗 Connect with us:
LinkedIn: Wayne Basford & Judith Leung
YouTube: @BasfordConsulting
Website: basfordconsulting.com