Many of the most well-known corporate scandals were associated to related party transactions such as Enron, Wordcom or Parmalat. However, transactions between entities and related parties must be adequately disclosed in the financial statements of the reporting entity. Although IAS 24 is...

National standard setters and external accounting observers continue to express concerns over a principles-based developed IFRS taxonomy. Considering the anticipated but unexpected SEC decision on March 3rd 2017 to adopt the IFRS taxonomy for electronic filings for Foreign Private Issuers by...

Main topic: This study concentrates on those disclosure requirements, which are defined by the new IFRS 9 and IFRS 7 related IASB Taxonomy. IASB has introduced a new standard (IFRS 9) on impairment, which requires a three-step approach, which in general replaces the current incurred impairment...