Financial Conformity According to IFRS
Global Compliance!
Financial Clarity!
Ensure your business stays audit-ready and globally compliant. At Orca & Co., we conduct professional IFRS conformity tests that assess your financial statements against international standards—giving you confidence, credibility, and clarity.
What is IFRS Compliance Testing?
The International Financial Reporting Standards (IFRS) are globally accepted accounting principles that ensure transparency, accountability, and comparability in financial reporting.
If your company operates or plans to expand internationally—or even within the UAE where IFRS is mandatory for most entities—your financial statements must conform to these standards.
Our IFRS testing service examines your financial records, transactions, disclosures, and reporting processes to verify that everything aligns with IFRS requirements. This ensures you’re:
Prepared for audits
Avoiding regulatory penalties
Attracting global investors or lenders
Presenting trustworthy and standardized financials
Our IFRS Conformity Testing Process
At Orca & Co., our step-by-step approach covers every critical area:
- Initial Financial Review
We assess your current financial statements and accounting practices. - Gap Analysis vs. IFRS Requirements
Identify mismatches between your records and IFRS standards. - Testing & Sampling
Perform detailed testing on revenue recognition, lease accounting, asset impairment, fair value disclosures, and more. - Risk Areas Review
Highlight red flags like misclassifications, inconsistent disclosures, or underreported liabilities. - Corrective Action Guidance
Recommend clear, actionable steps to bring your reports into conformity. - IFRS Training (Optional)
Empower your internal teams with tailored training on IFRS principles.
Key Areas We Test for IFRS Compliance
- Revenue Recognition (IFRS 15)
- Leases (IFRS 16)
- Financial Instruments (IFRS 9)
- Consolidation & Group Reporting (IFRS 10)
- Fixed Assets & Impairment (IAS 36)
- Inventory Valuation (IAS 2)
- Provisions & Contingent Liabilities (IAS 37)
- Financial Statement Presentation (IAS 1)
- Fair Value Measurements (IFRS 13)
Free Consultation
FAQ
Ask Orca & Co. — Trusted Compliance for Global-Ready Reporting
With increasing scrutiny from auditors, investors, and regulators, financial accuracy is no longer optional. Orca & Co.’s IFRS conformity testing helps you uncover hidden risks, ensure proper disclosures, and position your business for international growth.
That’s why we’ve answered your most common questions—to help you stay compliant, minimize reporting errors, and build lasting financial trust.
Have more questions? We’re just a message away.
Yes. All listed companies and most SMEs are required to prepare their financials in accordance with IFRS.
Non-compliance can lead to audit failures, investor distrust, or regulatory penalties. Our service identifies gaps and provides solutions.
Ideally once a year—especially before your external audit or when preparing for investment or merger discussions.