Financial reporting

Find updates, news and checklists related to financial reporting/IFRS

Tell your story effectively and transparently to all your stakeholders

Good reporting offers a window into the culture of the organisation. Recent years have seen a stronger emphasis placed on reporting quality, with tighter regulation and rising demands from stakeholders. Companies must work harder than ever to tell their story. From fast-growing start-ups to established multinationals, we work with companies to help them communicate clearly and effectively.

 

Our approach

Demands for greater financial transparency and proof of organisational sustainability are coming from many sides, including regulators, investors, and other stakeholders. The result: today’s reports are expected to go beyond reporting financials and embrace strategy, quality of governance, remuneration schemes, and even the organisation’s impact on the environment, employees, society and other stakeholders. 

This growing list of requirements has already placed a heavy burden on leadership teams and is likely to expand further. At Forvis Mazars, we have a strong track record helping our clients to meet – and exceed – the very latest corporate reporting standards. 

We bring together a team of professionals combining financial reporting and accounting knowledge with non-financial reporting expertise to deliver a pragmatic business approach. 

We regularly support our clients offering them integrated solutions in the following areas: 

Financial aspects

  • Implementing new accounting standards
  • Addressing complexities arising from proposed new accounting standards and guidance
  • GAAP conversions
  • Mergers and acquisitions
  • Consolidations support
  • Group reorganisations
  • Complex consolidations
  • Financing structures
  • Capital reductions
  • Purchase price allocation valuations
  • Share-based payment valuations
  • Pension scheme arrangements
  • Infrastructure projects

Non-financial aspects 

  • Developing non-financial, integrated annual reports
  • Assisting with establishing corporate governance risk disclosures
  • Collecting and collating nonfinancial data to support reporting to management, the board and external disclosures
  • Identifying key performance indicators
  • Providing support on developing integrated reporting frameworks

Our “Beyond the GAAP” monthly newsletter highlights our approach and our expertise, offering insights into the thinking of national and international accounting standards bodies plus other organisations that can affect corporate reporting such as securities regulators.

 

Our tools & solutions

We have a continuous innovation process to design and develop bespoke tools and solutions that support our work and help us provide more value and better insights. How we can assist: 

  • IFRS services:
    • Financial statement reviews
    • IFRS advise and memorandums
    • IFRS opinions
  • IFRS for SMEs services 
  • JSE Listings Requirements
  • Training and webinars

JSE Accreditation

Forvis Mazars is accredited with JSE Limited to perform IFRS advisory services for listed companies. Forvis Mazars has two internal IFRS advisors, Suzanna de Jager and Justine Combrink, who specialise in International Financial Reporting Standards.

 

Our people

We have professionals dedicated to the analysis of emerging accounting and corporate reporting standards, familiar with regulatory requirements in different parts of the world and with extensive experience across different industries.

Members of our team meet regularly with policymakers, participate in industry working groups and collaborate as one global, integrated team to share knowledge and best practice, meaning we are well placed to be proactive in advising our clients on the forthcoming standards and their implications.

Please download latest checklists and documents below:

Documents

IFRS Guidance - Standards and interpretations issued and not yet effective
Levels of control
SA Supplementary checklist for non-listed entities
SA Checklist for JSE short-form announcements
REIT Checklist entities listed on the JSE
Disclosure Checklist - SA supplementary checklist for JSE listed summarised financial statements Apr 2021.
Disclosure checklist - SA Supplementary checklist for JSE listed entities - Apr 2021
Registered address conundrum

Registered address conundrum

Why your auditor/accountant’s address can no longer be your company’s registered address.

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Revenue recognition: Disaggregation disclosure decisions

Revenue generation is core to most entities. Disclosure of revenue is therefore vital to understanding the business. The disaggregation thereof gives additional insight to support decision making.

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Revenue recognition: Disaggregation disclosure decisions
Companies Amendment Acts

Companies Amendment Acts

Everything you need to know about the changes to the Companies Act 71 of 2008

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Presentation and Disclosure in Financial Statements

IAS 1 Presentation of Financial Statements has been amended a number of times over the years, each time they change the name for the income statement… this time the IFRS Foundation issued a whole new Standard, IFRS 18 Presentation and Disclosure in Financial Statements, and once again we see a name change… for years beginning on or after 1 January 2027 we will call it a ‘statement of financial performance’.

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Presentation and Disclosure in Financial Statements
2 + 0 + 2 + 4

2 + 0 + 2 + 4

8 things a preparer should know

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(Ac)counting for extractives

The closure phase of the IASB’s Extractives Project

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(Ac)counting for extractives
Disclosing Financial Instruments

Disclosing Financial Instruments

What is a financial instrument and what is not? Why is it so important?

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IFRS 19 only… and still complying with IFRS Accounting Standards?

The preparers of group financial statements had long complained to the International Accounting Standards Board (IASB®) that the disclosures included in IFRS® Accounting Standards are too detailed. Most people acknowledge that entities with listed debt or equity instruments should comply with all the IFRS Accounting Standards disclosers, but for other smaller entities, the burden is heavy.

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IFRS 19 only… and still complying with IFRS Accounting Standards?
Equity or Liability - will it be clearer now?

Equity or Liability - will it be clearer now?

Determining whether an instrument must be classified as equity or a liability has been a contentious issue for many years. There have been various projects on ‘the equity issue’ and the IASB has finally published a much anticipated exposure draft on Financial Instruments with Characteristics of Equity Classification. Does it make it easier to determine what is equity and what is a liability? We’ve summarised the issues covered in the exposure draft for you to consider, but you’ll need to work through the whole document to decide for yourself.

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Ghana going hyper?

Ghana has been on the hyperinflation watchlist for a while. Effective 31 December 2023 the International Practices Task Force (IPTF) determined that with a 3-year cumulative inflation of 128% it is now there.

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Ghana going hyper?

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