Innovative Solutions can help you adopt IFRS easily:
What are ‘International Financial Reporting Standards – IFRS’
International Financial Reporting Standards (IFRS) are a set of international accounting standards stating how particular types of transactions and other events should be reported in financial statements. IFRS are issued by the International Accounting Standards Board, and they specify exactly how accountants must maintain and report their accounts. IFRS were established in order to have a common accounting language, so business and accounts can be understood from company to company and country to country.
IFRS In Sudan:
Careful planning and preparation by corporates, practitioners and regulators over the next one to two years will determine the success or otherwise of the effective IFRS implementation in Sudan. Stakeholders should put in place adequate resources to support the sustainable implementation of IFRS. This includes setting up consultative groups to be available to respond promptly to challenges faced by users.