You will find below the latest technical specifications of Mazars. Mazars Insights deepen practical solutions and illustrate the difficulties in applying the newest IFRS standards.
Mazars analyses, in a new Mazars Insight, the 2009 annual reports of large European insurance groups, to highlight the sensible points of the year.
The areas of greatest subjectivity and interest within the financial statements of large European insurance groups as at 31 December 2009
The aim of this study is to present the new measures intended to fall within the new statutory framework called “Basel III”, documentation published in December 2009 by the Basel Committee and proposals made since. We also relied on a sample of answers from financial establishments to the Consultative Paper to present the main comments from the international banking sector.
Under investors’ pressure, the FASB (i.e. the American accounting standard setter) and IASB initiated a few years ago a roadmap to the convergence of US GAAP and IFRS.
The financial crisis and the fall of stock market prices are indications of potential impairment of long-term non-financial assets (intangibles, goodwill, tangibles, etc.). Against this background, many companies have experienced the difficulties of applying the impairment tests set out in IAS 36, Impairment of assets.
Practical guide to application and expected changes IFRS 5, Non-current Assets Held for Sale and Discontinued Operations, was published to achieve convergence with US GAAP and represented a significant change for many companies.
Credit institutions faced significant changes both in their consolidated financial statements and in their regulatory reports.