Internal Audit Services (IAS) and International Financial Reporting Standards (IFRS) introduce significant changes to the way accounts must be prepared and presented, requiring a wider range of assets to be valued on an annual basis.
- IFRS changes the accounting treatment for acquisitions. All assets (tangible and intangible) from a merger or acquisition now have to be included in the balance sheet of the acquirer at their current market value and are depreciated over their useful economic life.
- Goodwill is now tested for impairment annually, and is marked down according to the conclusions of the annual process.
- A range of financial assets now also need to be valued under IAS, including financial instruments and insurance contracts. IFRS requires share options to be valued as they are charged against the profit and loss account on an annual basis.
- These considerable changes call for specialist valuation services that both understand the specific accounting implications and the wider commercial context in which the accounting valuations will apply.
- PricewaterhouseCoopers valuation services draw on considerable technical and financial specialisation, as well as being able to access accounting professionals to deliver integrated advice to our clients.
