RSM Global

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 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.

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