International Accounting Standards are fast becoming a global feature with more countries switching from domestic standards to International. Most of the international standards are complex and technical. This book aims to summarise the core technical aspects of the accounting standards in an easy to understand format. Most chapters contain illustrative examples of how the standard works in practice as well as defining some of the more complex and technical terms users often come across when reporting under IFRS.

Written by Steven Collings, winner of Accounting Technician of the Year at the British Accountancy Awards 2011, this book deals with the significant changes auditing has undergone in recent years, due in large part to well-publicised corporate disasters such as Enron and Parmalat, which have shaken the profession. In response, many countries have replaced pre-existing domestic standards with International Standards on Auditing (ISAs) in an attempt to ensure that auditors throughout the world apply the same level of standards during all audit assignments, and that audit quality remains...