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Audit and assurance

Intelligent insight and smart feedback.

People are only as good as the tools they possess. So, to consistently deliver high-quality auditing services, we are always investing in auditing methods. We keep our ear to the ground so we can closely follow the latest developments and share them throughout our network.

Staying alert to risk is always a priority. That’s why we devote a considerable amount of attention and resources to ensuring our methods are compliant with the International Standards on Auditing.

RSM's Global Capabilities

From new trade rules to talent migration, from big data to cyber threats, the world is changing at an unprecedented pace. But upheaval also means opportunity, if you’re prepared.

Issue 89 - IFRS News in Brief

Breaking IFRS news from the past month; including publications, deadlines, announcements, comment letters from RSM, and decisions by the IASB.

RSM posts record revenues as consulting services power growth

RSM has reported record global revenues of $5.37 billion for 2018

Issue 88 - IFRS News in Brief

Breaking IFRS news from the past month; including publications, deadlines, announcements, comment letters from RSM, and decisions by the IASB.

Issue 87 - IFRS News in Brief

Breaking IFRS news from the past month; including publications, deadlines, announcements, comment letters from RSM, and decisions by the IASB.

Issue 86 - IFRS News in Brief

Breaking IFRS news from the past month; including publications, deadlines, announcements, comment letters from RSM, and decisions by the IASB.

Issue 85 - IFRS News in Brief

Breaking IFRS news from the past month; including publications, deadlines, announcements, comment letters from RSM, and decisions by the IASB.

Issue 83 - IFRS News in Brief

Breaking IFRS news from the past month; including publications, deadlines, announcements, comment letters from RSM, and decisions by the IASB.

Ethics and the future of auditing

In a global business environment, decision makers need to trust the information given to them more than ever before. Ultimately, audits are providing an informed opinion to the decision makers in a business about the accuracy and reliability of the information presented, allowing them to make critical business decisions.

Issue 82 - IFRS News in Brief

Breaking IFRS news from the past month; including publications, deadlines, announcements, comment letters from RSM, and decisions by the IASB.

Issue 80 - IFRS News in Brief

Breaking IFRS news from the past month; including publications, deadlines, announcements, comment letters from RSM, and decisions by the IASB.

Issue 79 - IFRS News in Brief

Breaking IFRS news from the past month; including publications, deadlines, announcements, comment letters from RSM, and decisions by the IASB.

Issue 78 - IFRS News in Brief

Breaking IFRS news from the past month; including publications, deadlines, announcements, comment letters from RSM, and decisions by the IASB.

RSM breaks through US$5bn global revenue

RSM has delivered growth in every business line, reflecting RSM’s commitment to help middle market businesses fulfil their global ambitions. 2017 saw revenues rise by 5.6% to US$5.1bn.

Issue 77 - IFRS News in Brief

Breaking IFRS news from the past month; including publications, deadlines, announcements, comment letters from RSM, and decisions by the IASB.

7 steps: How CPAs can prepare for auditing in the future

Seven actionable steps to help auditors understand how they can best assess and address the changes to come. From Bob Dohrer, Global Leader - Quality and Risk, RSM, and Will Bible, a partner and audit innovation leader with Deloitte & Touche LLP.

Issue 76 - IFRS News in Brief

Breaking IFRS news; including publications, deadlines, announcements, comment letters from RSM, and decisions by the IASB. 

Bob Dohrer reappointed to IAASB Board

RSM is delighted to announce that Bob Dohrer, RSM’s Global Leader for Quality and Risk, has been reappointed for a second three-year term to the International Auditing and Assurance Standards Board.

Issue 75 - IFRS News in Brief

Breaking IFRS news; including publications, deadlines, announcements, comment letters from RSM, and decisions by the IASB. 

Issue 74 - IFRS News in Brief

Breaking IFRS news; including publications, deadlines, announcements, comment letters from RSM, and decisions by the IASB. 

IFRS Illustrative Consolidated Financial Statements 2017

RSM International Limited has prepared a model set of consolidated financial statements for a fictitious company called IFRS Statements Limited which, for the purpose of the exercise, is described as a company listed in Big City Stock Exchange and incorporated and domiciled in a fictitious country, Newland. The IFRS consolidated financial statements have been prepared according to all relevant Standards and Interpretations in force for reporting periods beginning on or after 1 January 2017.

Issue 73 - IFRS News in Brief

Breaking IFRS news; including publications, deadlines, announcements, comment letters from RSM, and decisions by the IASB. 

Key considerations for 2017 IFRS financial reporting

An overview of new and amended Standards and Interpretations that need to be considered by preparers and auditors of 2017 IFRS interim and annual financial statements.

Issue 72 – IFRS News In Brief

Breaking IFRS news; including publications, deadlines, announcements, and decisions by the IASB. 

Issue 71 - IFRS News in Brief

Breaking IFRS news; including publications, deadlines, announcements, and decisions by the IASB. 

Alternative Performance Measures - Do they replace or complement GAAP financial information for analysts’ use?

On behalf of RSM, Prof. Marco Mongiello, Executive Director MBA and MSc Programmes at Surrey Business School, talks with Ken Lee, Head of European Equity Research at Barclays, and Deborah Taylor, Senior Analyst in Accounting and Governance Research at Barclays.

Issue 70 - IFRS News in Brief

Breaking IFRS news, including publications, deadlines and announcements, and decisions by the IASB. 

Issue 69 - IFRS News in Brief

Breaking IFRS news, including publications, deadlines and announcements, and decisions by the IASB. 

Issue 68 - IFRS News in Brief

Breaking IFRS news, including publications, deadlines and announcements, and decisions by the IASB. This edition covers Insurance Contracts (IFRS 17) and Financial Instruments with Characteristics of Equity.

IAASB Data Analytics Project Update

Bob Dohrer, International Auditing and Assurance Standards Board (IAASB) Member and Chair of the IAASB Data Analytics Working Group, provides an update of the IAASB’s data analytics project, including the activities performed to date and the vision for the way forward.

10 key reminders for 2016 IFRS Financial Reporting

by Joelle Moughanni, Technical Consultant, RSM - taken from RSM Reporting - Issue 29.

The future of IFRS in Europe - A change of direction ahead ?

This is an interview taken from RSM Reporting - Issue 29, with RSM Reporting's editor, Marco Mongiello

RSM Reporting - Issue 29

2017 promises to be a rather momentous year, with international trade being re-shaped on both sides of the Atlantic and in the Pacific regions and with new business models stemming from innovative technology and enterprises. What does this mean for the future of accounting? In this issue we continue to provide some insight into the foreseeable developments of IFRS in Europe, in conversation with the CEO and Chairman of the Technical Experts Group of EFRAG, Andrew Watchman.

Issue 67 – IFRS News In Brief

Breaking IFRS news, including publications, deadlines and announcements, and decisions by the IASB.

Issue 66 – IFRS News In Brief

Breaking IFRS news, including publications, announcements, and decisions by the IASB and IFRS IC. 

The future of the audit industry: transaction to meaning

Bob Dohrer, the global leader of quality and risk for RSM, comments on the current trends and the future of the audit profession

Issue 65 – IFRS News In Brief

Breaking IFRS news, including publications, announcements, and decisions by the IASB and IFRS IC. 

IFRS key considerations for closing out 2016

A high-level overview of new and amended standards and interpretations that need to be considered for financial reporting periods ending on 31 December 2016

Reflections on the future of accounting and reporting - a conversation with Mark Vaessen

Reflections on the future of accounting and reporting -  a conversation with the chairman of the Corportate Reporting Policy Group at the Federation of European Accountants, looking at the possible effects of Brexit on the development of IFRS.

RSM Reporting November 2016

Technical developments in global accounting and reporting from around the world, including an interview with the Mark Vaessen, the chairman of the Corportate Reporting Policy Group at the Federation of European Accountants, looking at the possible effects of Brexit on the development of IFRS.

Issue 64 - IFRS News in Brief

Breaking IFRS news, including publications, announcements, and decisions by the IASB.

Issue 63 - IFRS News in Brief

Breaking IFRS news, including publications, announcements, and decisions by the IASB.

Issue 62 - IFRS News in Brief

Breaking IFRS news, including publications, announcements, and decisions by the IASB.

Aggregation of operating segments – tendencies among public companies

A review of disclosures on operating segments, asking: what argument do listed entities use when aggregating operating segments? Who is identified as the Chief Operating Decision Maker (‘CODM’)? And, what impact might the determination of CODM have on the definition of reportable segments?

Spotlight on the new Leases Standard

Spotlight on the new Leases Standard – IFRS 16 in 16 Q&As

Michael Wells on the future of the accounting profession

A conversation with Michael Wells on the future of the accounting profession, by Marco Mongiello, Editor of RSM Reporting.

RSM Reporting - July 2016

Technical developments in global accounting and reporting from around the world, including an interview with Michael Wells on the future of the profession, and Q&As on IFRS 16.

Issue 61 – IFRS News In Brief

Breaking IFRS news, including publications, announcements, and decisions by the IASB.

Issue 60 – IFRS News In Brief

Breaking IFRS news, including decisions by the IASB on Agenda Consultation, Insurance and IFRS 9, and Conceptual Framework.

Issue 59 – IFRS News In Brief

Breaking IFRS news, including decisions by the IASB and clarifications to the new Revenue Standard IFRS 15.

Investment property – issues encountered in practise

The accounting treatment of investment properties, explained by Simon Fisher, Partner, RSM Eastern Africa. 

Materiality in five Q&As

Addressing the concept of ‘materiality’ in five key questions. 

Issue 57 – IFRS News In Brief

RSM's monthly IFRS news round-up, including decisions by the IASB, comment letters, and upcoming comment letter deadlines.

Issue 56 – IFRS News In Brief

RSM's monthly IFRS news round-up.

Are investment funds shortchanged by the exemption from consolidation with more efforts and disclosures required by fair value accounting?

Amendments to IFRS 10, Consolidated Financial Statements, IFRS 12, Disclosure of Interests in Other Entities and IAS 27, Separate Financial Statements on Investment Entities (IE) provide an exemption from consolidation for investment funds and similar entities. As such, an IE records its investments in subsidiaries at fair value through profit or loss, instead of consolidating them. The main reason for such preferential treatment is that the IE operates in a unique business model where fair value information is provided to its users and such fair value information is more useful for the stakeholders within the IE’s ecosystem. However, the assessment whether an entity qualified as an IE is not straightforward. Let us explore closely.

RSM Reporting - Issue 26

As we enter into the second decade of IFRS in Europe, in this issue we reflect on the lessons learnt from the past and on what we should look forward to in the next decade. Our guest contributor, Dr Nigel Sleigh-Johnson, Head of the Financial Reporting Faculty at ICAEW, shared with us his insightful views, providing a start to the New Year under the best auspices of a promising new decade of IFRS.

Issue 55 – IFRS News In Brief

PUBLICATIONS AND ANNOUNCEMENTS Accounting changes for transactions between investors and associates or joint ventures postponed

Issue 54 – IFRS News In Brief

PUBLICATIONS AND ANNOUNCEMENTS Proposed guidance on transfers of investment property open for comment until 18 March 2016 On 19 November 2015, the IASB published an exposure draft aimed at clarifying the existing guidance on transfers to, or from, investment properties in IAS 40.

RSM Reporting - Issue 25

In this issue we report on the IASB’s endeavour to publish a new Conceptual Framework, which is approaching a successful completion.

Issue 53 – IFRS News In Brief

PUBLICATIONS AND ANNOUNCEMENTS Proposed Interpretation for uncertainty over income tax treatments open for comment until 19 January 2016

Issue 52 – IFRS News In Brief

PUBLICATIONS AND ANNOUNCEMENTS IFRS 15 Revenue from Contracts with Customers amended for its effective date

Communication is pivotal for global manufacturer

Case study details   Sector: Engineering and ManufacturingClient: One of the largest manufacturers of plant and heavy machinery with revenue in excess of ¥6b Requirement: Audit, Financial Statements & Advisory Region: Worldwide

Speed is key for global logistics company

Case study details   Client: One of the largest providers of warehousing services in the United States, which has 32m sq. feet of warehousing Sector: 3PL (third-party logistics) Requirement: Accounting assistance, audit & tax work

Global manufacturer relies on trusted relationships

Case study details   Client: A global manufacturer and distributor, with over 55,000 products Sector: Biomedical and life sciences Requirement: Statutory audit, tax compliance and advisory. Region: Asia Pacific and North America

The Transpacific Partnership

In June 2015 the U.S. Congress granted fast track authority to President Barack Obama, clearing the way for final negotiations of the Transpacific Partnership (TPP). The completion of the 12-member TPP would create a mega-regional zone representing 40 percent of global GDP and 26 percent of world trade.

Issue 51 – IFRS News In Brief

This fifty-first edition features: Publications and Announcements

Issue 24 - RSM Reporting

This edition features: Françoise Flores, EFRAG TEG Chairman and CEO The growing demand for stakeholders’ direct and active participation in the IFRS standard setting process. Our experts in... the UK Deferred Tax – Where is it going?

Issue 50 – IFRS News In Brief

This fiftieth edition features: Publications and Announcements Proposals for amendments to pension accounting open for comment until 19 October 2015 International Accounting Standards Board - Latest Decisions Summary

Issue 49 – IFRS News In Brief

This forty-ninth edition features: Publications and Announcements

Issue 48 - IFRS News In Brief

This forty-eighth edition features: International Accounting Standards Board - Latest Decisions Summary Effective date of IFRS 15 Revenue from Contracts with Customers (narrow-scope exposure draft)

Issue 23 - RSM Reporting

This edition features: Paul Druckman, CEO, IIRC Comments on IFRS and global accounting standards Our experts in... Australia Jane Meade and Daisy Yang report on the interpretation and application of IFRS 11 - Joint Arrangements

Issue 47 – IFRS News In Brief

This forty-seventh edition features: IFRS Interpretations Committee - Latest Decisions Summary Foreign currency transactions and advance consideration draft interpretation of IAS 21 International Accounting Standards Board - Latest Decisions Summary

Issue 46 – IFRS News In Brief

This forty-sixth edition features: IFRS Interpretations Committee- Latest Decisions Summary Accounting for income tax assets and liabilities when there are tax uncertainties The forthcoming draft interpretation of IAS 21 International Accounting Standards Board - Latest Decisions Summary

Issue 45 - IFRS News In Brief

This forty-fifth edition features: International Accounting Standards Board - Latest Decisions Summary Leases (IFRS due H2/2015) Insurance Contracts (redeliberations on the 2013 ED) Conceptual Framework (exposure draft due Q1/2015)

Issue 22 - RSM Reporting

This twenty-second edition features:

Issue 44 - IFRS News In Brief

This forty-fourth edition features: Publications and Announcements IFRS 10, IFRS 12 and IAS 28 amended for investment entity requirements IAS 1 amended under the Disclosure Initiative project  Proposals for amendments to IAS 7 open for comment until 17 April 2015 

Issue 43 - IFRS News In Brief

This forty-third edition features: Publications and Announcements Proposals for amendments to IFRS 2 open for comment until 25 March 2015  IFRS Interpretations Committee - Latest Decisions Summary

Issue 42 - IFRS News In Brief

This forty-second edition features: International Accounting Standards Board - Latest Decisions Summary

Issue 21 - RSM Reporting

This twenty-first edition features:

Issue 41 - IFRS News In Brief

This fourty-first edition features: Publications and Announcements

RSM’s Bob Dohrer appointed to the International Auditing and Assurance Standards Board

The Public Interest Oversight Board has approved the International Federation of Accountants’ (IFAC) appointment of Bob Dohrer, RSM’s Global Leader for Quality and Risk, to serve a three-year term on the International Auditing and Assurance Standards Board (IAASB).

Issue 20 - RSM Reporting

This twentieth edition features: Our experts in UAE Baasab B. Deyb discusses insurance law - the journey so far and the way forward Martyn Jones, President of the ICAEW Discusses how to restore trust in the accounting and auditing profession globally

Issue 39 - IFRS News In Brief

This thirty-nineth edition features: Publications and Announcements IAS 16 and IAS 41 amended for bearer plants Proposals for amendments to IFRS 10 and IAS 28 open for comment until 15 September 2014 International Accounting Standards Board - Latest Decisions Summary

Issue 38 - IFRS News In Brief

This thirty-eighth edition features: Publications and Announcements

Issue 19 - RSM Reporting

This nineteenth edition features:

Issue 37 - IFRS News In Brief

This thirty-seventh edition features: Publications and Announcements Discussion paper on accounting for macro hedging open for comment until 17 October 2014 International Accounting Standards Board - Latest Decisions Summary

Issue 36 - IFRS News In Brief

This thirty-sixth edition features: Publications and Announcements Proposals for narrow-focus clarifying amendments to IAS 1 open for comment until 23 July 2014 IFRS Interpretations Committee - Latest Decisions Summary

Issue 35 - IFRS News In Brief

This thirty-fifth edition features: IFRS Interpretations Committee - Latest Decisions Summary International Accounting Standards Board - Latest Decisions Summary

Issue 34 - IFRS News In Brief

This thirty-fourth edition features: Publications & Announcements Interim guidance issued on rate-regulated activities Post-implementation review of IFRS 3 open for comment until 30 May 2014 International Accounting Standards Boards - Latest Decisions Summary

Issue 18 - RSM Reporting

This eighteenth edition features:

Issue 33 - IFRS News In Brief

This thirty-third edition features: Publications & Announcements

Issue 32 - IFRS News In Brief

This thirty-second edition features: Publications & Announcements

Issue 31 - IFRS News In Brief

This thirty-first edition features: Publications & Announcements Proposals for limited amendments to the IFRS for SMEs open for comment until 3 March 2014 International Accounting Standards Board - Latest Decisions Summary

A radical solution to improve the effectiveness of audits

Guest blog from Bob Dohrer, RSM’s Global Leader for Quality and Risk

Issue 17 - RSM Reporting

This seventeenth edition features:

Issue 30 - IFRS News In Brief

This thirtieth edition features: IFRS Interpretations Committee (IC) - Latest Decisions Summary International Accounting Standards Board - Latest Decisions Summary

UK's CC provisional remedies for fairer system for audit market

Guest post from Robert Dohrer, RSM's Global Leader for Quality and Risk

Uruguay: Benefits of Uruguayan Trusts

Trusts in Uruguay are ruled under Law 17,703 which was published on 4 November 2003.

Issue 29 - IFRS News In Brief

This twenty-ninth edition features: Publications & Announcements Discussion paper for a new conceptual framework open for comment until 14 January 2014 IFRS Interpretations Committee - Latest Decisions Summary

Issue 28 - IFRS News In Brief

This twenty-eighth edition features: Publications & Announcements

RSM sponsors IFRS Foundation conference

RSM, the seventh largest global network of independent audit, tax and advisory firms, are sponsors of the IFRS Foundation Conference in Amsterdam from 27-28 June 2013.

Issue 16 - RSM Reporting

This sixteenth edition features:

Issue 27 - IFRS News In Brief

This twenty-seventh edition features: Publications & Announcements

Africa: The Last Frontier of the World Economy

Once dismissed as an economic backwater beset by political turmoil, Africa has become an attractive market for globally active companies seeking long-term profitable growth.

Issue 26 - IFRS News In Brief

This twenty-sixth edition features: Publications & Announcements

The Future of Renewable Energy

The global development of renewable energy encounters a number of obstacles:

Issue 25 - IFRS News In Brief

This twenty-fifth edition features: Publications & Announcements

Guest Blog: Horse Meat & the Auditor (an unlikely pairing!)

RSM’s Global Leader for Quality and Risk, Bob Dohrer, draws parallels between horse meat and financial fraud

Issue 15 - RSM Reporting

This fifteenth edition features:

Issue 24 - IFRS News In Brief

This twenty-fourth edition features: Publications & Announcements Proposal for amendments to IAS 39 and IFRS 9 open for comment until 2 April 2013 International Accounting Standards Board - Latest Decisions Summary

Need for auditors to communicate the value we add is greater than ever

Auditors are often thought of as quiet, unassuming types – a stereotype which isn’t wholly untrue – but we clearly need to do much more to communicate to clients and other stakeholders the real value of the work we do.

RSM Survey of International Business Confidence

This report summarises the results of a survey of international business confidence conducted at the RSM Annual Conference in London in November 2012. The survey gauged the views of over 280 senior leaders from within RSM member firms 70 countries on the following issues:

Issue 23 - IFRS News In Brief

This twenty-third edition features: Publications & Announcements Proposal for amendments to IAS 36 open for comment until 19 March 2013 Proposed IFRS Taxonomy 2013 open for comment until 18 March 2013 IFRS Interpretations Committee - Latest Decisions Summary

Issue 14 - RSM Reporting

This fourteenth edition features:

Audit profession must add value or face irrelevance

Has there ever been a more challenging time to be an accountant? Or, to put it another way, is the accounting profession now so turbulent that many of us would rather be actuaries?

Accountancy at the heart of global competitiveness

The World Economic Forum (the organisers of Davos) has issued its latest Global Competitiveness Report. This is a fascinating insight into the health of economies beyond simply GDP, and the largest study of its kind. You can read the full report here.

Issue 13 - RSM Reporting

This thirteenth edition features:

Guest post: Occupational fraud and the auditor’s role – a view from South Africa

Below is a thought-provoking guest post on auditors role in fighting fraud and corruption from Morne Pienaar, Internal Audit Manager at RSM Betty & Dickson in South Africa. In South Africa it is nearly impossible to read the news without seeing headlines regularly highlighting incidences of fraud, nepotism and corruption.

Issue 12 - RSM Reporting

This twelfth edition features:

EU Audit Market proposals: "No change is not an option"

Yesterday, I and the CEOs of Grant Thornton, BDO, Mazars, and Rödl & Partners, along with the CEO of EGIAN (European Group of International Accounting Networks) met with MEPs in Brussels to discuss mid-tier accountancy firm’s positions on EC audit proposals.

Corporate culture: Creating strong guardrails for governance and ERM

How do you define your organization’s corporate culture? Often, corporate culture is difficult to describe.

Issue 11 - RSM Reporting

This eleventh edition features:

The Shale Gas Revolution

Recent advances in hydraulic fracturing (“fracking”) are spurring development of shale gas reserves in the United States, Canada, Poland, Australia, and other countries. The shale gas boom has strengthened energy security in these countries by lowering dependence on imported fossil fuels.

The Brussels Agreement: Fiscal Adjustment and Economic Growth in Europe

On December 9, the European Council met in Brussels to devise a resolution of the Euro crisis that imperils the still fragile recovery from the global financial crisis.

Fallout of the Euro Crisis

On 27 October 2011, the 17 Euro countries agreed to new €100 billion bailout package for Greece, which included a 50 percent write down of Greek government bonds held by private European banks.

Communication Infrastructure and Broadband Growth in Africa

As the growth of Africa’s ICT (Information and Communications Technology) infrastructure proceeds, industry players are placing greater emphasis on mobile data and other value added services such as mobile banking and funds transfer.

Small and Medium Enterprises in the Global Economy

Small and medium enterprises, which played a crucial role in job creation and economic growth in the early and mid-2000s, incurred major setbacks during the Great Recession. In the European Union, SME employment fell by over three million jobs in 2009-10.

Challenging Audit Market Dominance

There is a growing consensus amongst government, regulators and the profession that, amongst other issues, something needs to be done about market concentration. I support measured change to allow RSM and other networks to thrive and compete for market share.

Corporate Sustainability

“Corporate Sustainability” – broadly conceived as the formal integration of economic, environmental, and social factors in managerial decision making and corporate governance – is assuming a central role in global business.

Prospects for the World Economy 2011

Three years after the onset of the global financial crisis, the contours of the global rebound have taken shape.

Renewable Energy in Europe 2010

The development of renewable energy in Europe faces a host of environmental, economic and political hurdles. Imported fossil fuels represent more than half of European energy consumption. At projected growth rates, the share of imported hydrocarbons will rise to 70 percent of total energy consumption by 2020.

Commercial Developments in MERCOSUR

Since its creation in 1991, MERCOSUR (acronym in Spanish for Mercado Común del Sur or Common Market of the South) has been developing at an uneven pace.