In this issue we bring to the fore the important debate about the changes in the role of our profession. Technology and business models have profound effects on our profession, making certain features of the accountant’s role less distinctive and others much more relevant.
In the opinion of Michael Wells, former Head of the IFRS Global Education Initiative, there is no doubt that these changes are relieving our profession of its clerical aspects, while the more professional components gain ever more importance.
Michael’s emphasis on the importance of professional judgement is echoed by Henric Larsolle, who shares with us his insight into the practical application of IFRS 8 Operating Segments in small and medium-sized enterprises. Henric’s analysis of a large sample of companies results in some remarkable findings in terms of lack of commonality in the interpretation of this Standard.
Also in this issue, Joelle Moughanni sheds light on the application of IFRS 16, the new Leases Standard, providing practical and well-supported answers to 16 questions about its application.
RSM keeps contributing to disseminating good practices on the application of IFRSs, in particular by providing technical advice to its member firms’ clients. An example of this is given at the end of this issue on the allocation of an impairment loss to non-current assets within a disposal group.
Enjoy your reading!
Dr Marco Mongiello ACA