THE FIRST-QUARTER reporting season saw Australian companies extremely focused upon the impact international financial reporting standards (IFRS) would have in succession their financial statements.

THE FIRST-QUARTER reporting season saw Australian companies extremely focused upon the impact international financial reporting standards (IFRS) would have in succession their financial statements, according to the Big Four accounting firms.

Companies have begun asking more questions about the impact of various accounting standards onward their financial statements, and the commonness of those questions increased during preparation for the newly ended reporting season.

Senior technical partners in the Big Four accounting firms are noticing a rise