Auditing consolidated financial statements under IFRS

The publication by the International Accounting Standards Board (IASB) of the new standards on consolidated accounts: IFRS 10, IFRS 11, IFRS 12 and IAS 28 revised, has reshaped the consolidation landscape. The aim of this book is to explain the consequences of these new standards for all those involved in financial reporting, and to make accountants aware of the repercussions of applying these standards during an audit. The first part of this work presents the philosophy behind these new standards and the accounting and operational impacts on groups when adopting this package. The second part outlines the problems encountered by chartered accountants in the practical application of these standards during an audit. Based on an analysis of the main risks identified, a methodology for auditing consolidated financial statements is presented, followed by a specific audit program in line with the requirements of the new standards on consolidated financial statements. This book is the perfect guide for practitioners grappling with the practical problems of applying the revised consolidation standards.