From the Inside Out.
"Misapplying one accounting standard can restate your financials, delay your audit, and damage investor confidence. Getting it right the first time is not optional — it is strategic."
— Finerio Advisory Practice
Accounting Rules, Made Simple
IFRS (International Financial Reporting Standards) and IAS (International Accounting Standards) are the globally accepted rules that define how your company records money, values assets, and reports its financial position. Think of them as the universal grammar of finance — used by investors, banks, and regulators in 140+ countries to read and trust your numbers.
In the UAE, IFRS compliance is mandatory for companies listed on the DFM and ADX, and widely required across ADGM, DIFC, and regulated industries. Getting the accounting right isn't optional — it directly affects how you are valued, financed, and audited.
Finerio sits alongside your finance team — interpreting, applying, and documenting these standards correctly, so you stay compliant and credible with every stakeholder.
This service goes by many names — all meaning the same expertise
Whether your CFO calls it "accounting advisory," your auditor says "technical review," or your regulator refers to "GAAP compliance" — all roads lead here.
IFRS & IAS Advisory Services
Comprehensive technical accounting support across your full financial reporting lifecycle — from policy design to audit defence.
Major Activities in Every Engagement
Plain-language breakdown of what our team delivers from day one of every advisory engagement.
Standards Research & Interpretation
We read, analyze, and translate the relevant IFRS/IAS standard into a clear, actionable conclusion your team can act on — no dense regulatory language.
Technical Accounting Memos (TAMs)
Formal written memos documenting the accounting question, applicable standard, evidence, and conclusion — creating a defensible audit trail for every material judgment.
New Standard Impact Assessment
When a new standard goes live (e.g., IFRS 17 amendments, IAS 12 pillar-two changes), we assess the financial impact on your specific business before it hits your books.
Transaction Pre-Deal Review
Before a contract is signed or deal closed, we assess the accounting consequences — eliminating balance-sheet surprises after ink dries.
Accounting Policy Manual Development
Comprehensive entity-specific policy manuals documenting every accounting election — ensuring consistency, auditability, and onboarding efficiency.
Auditor Liaison & Audit Support
We prepare technical responses to auditor queries, assist in resolving differences of opinion, and provide documentation that reduces audit time and fees.
Disclosure Gap Analysis
Line-by-line review of draft financials against applicable standards — identifying missing disclosures, incorrect classifications, and presentation issues before the auditor does.
IFRS Training & Team Workshops
Targeted, practical training for CFOs, controllers, and finance teams — covering standards relevant to your business with real-world UAE case studies.
Restatement & Prior Period Error
When an error is discovered, IAS 8 requires retrospective restatement. We manage the full process — impact calculation, disclosure drafting, and auditor coordination.
UAE Regulator Submission Support
Preparing and reviewing financial data for DFSA, SCA, and CBUAE submissions — ensuring compliance with UAE-specific reporting frameworks.
Key Standards We Advise On
Our advisors are fluent in the full IFRS and IAS suite. These are the standards most commonly encountered in UAE practice.
Questions we hear from clients every week.
Plain-language answers to the most common questions about IFRS and IAS advisory.
IFRS stands for International Financial Reporting Standards — the global accounting rulebook used in 140+ countries. In the UAE, IFRS is mandatory for all companies listed on the DFM and ADX. Banks, investors, and auditors rely on IFRS-compliant financials to evaluate and trust your business. Getting it right directly affects your access to finance, your audit outcome, and your company's perceived credibility. Free zone companies in ADGM and DIFC are also widely expected to adopt IFRS from inception.
They are two generations of the same rulebook. IAS were the original standards issued between 1973 and 2001. When the IASB took over, new standards were labelled IFRS. Both are still active and must be applied together. For example, IAS 16 covers property and equipment (still in force), while IFRS 16 covers leases (issued in 2016). Our advisory spans both sets with no gaps.
Your auditor verifies your accounts — they cannot advocate for you or help prepare complex areas without independence concerns. We sit on your side of the table: helping you structure transactions correctly before they happen, preparing the memos your auditor needs, and resolving technical disputes in your favour. Think of your auditor as the referee and us as your coach. Specialist advisory input also typically reduces your audit time and fees significantly.
A TAM is a formal written document — typically 5 to 30 pages — setting out the accounting question, applicable standards, relevant facts, and the conclusion reached. It is the professional evidence that your company exercised proper judgment in applying an accounting standard. Auditors rely on TAMs as key audit evidence. Having a well-written TAM for every material accounting judgment dramatically reduces audit risk and demonstrates quality governance.
IFRS 15 says you can only count revenue when you have actually earned it — not when cash arrives or a contract is signed. It uses a five-step model: identify the contract, identify separate deliverables, determine the price, allocate it to each deliverable, and recognise revenue when each is complete. A construction company cannot book all revenue on day one; a software company must separate license revenue from support revenue. Getting this wrong is one of the most common causes of financial restatements.
Before IFRS 16, most office and vehicle leases were off-balance-sheet monthly expenses. Under IFRS 16, virtually all leases of 12+ months must appear on your balance sheet as a Right-of-Use Asset and a Lease Liability. This increases total assets and liabilities — affecting bank covenants and investor ratios. For a UAE company with multiple office locations or a vehicle fleet, this can mean millions of dirhams added to the balance sheet. We handle the full calculation, modelling, and disclosure.
Not at all. SMEs preparing for bank financing, PE investment, or a first external audit frequently have significant IFRS issues that need expert guidance. Free zone companies face IFRS requirements from day one. Family offices and holding companies managing property or investments need IAS 40 and IFRS 9 guidance. Finerio brings Big 4-quality technical expertise to the growth-stage and mid-market businesses that large firms underserve — at a size and cost that fits your business.
Still have a question?
Our technical accounting team is available for a complimentary 30-minute scoping call. Bring your question — we'll point you in the right direction with no obligation. 📍