The language of financial performance and reporting has changed to language of International Financial Reporting Standards (IFRS). With over 12,000 companies in over 100 countries already reporting IFRS, no company should be left behind. We boast of a robust IFRS implementation approach covering not just the figures but cut across all the activities and functions of the company.

Our experience with different companies on IFRS Project has afforded us deep understanding of the intricacies of IFRS which has enhanced our capabilities to test quality assurance in our client's IFRS adoption and implementation process. We will work with you to ensure compliance and standard at every stage of IFRS conversion and implementation.

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In providing a single source of guidance, precise definition and enhancing disclosures about reported fair value estimates, the International Accounting Standards Board (IASB) issued IFRS 13. This standard: Assist in improving consistency and comparability Help preparers and auditors in fulfilling their role Contribute to users’ understanding of what fair value represents Our fair value team advise companies regarding fair value measurements and related matters, including: Valuation methodologies; Valuation techniques for financial and nonfinancial assets; Application of premiums and discounts in fair value measurements; Determination of where significant inputs fall in the fair value hierarchy; Valuation of assets acquired and liabilities assumed in a business combination; Disclosure requirements; and When the fair value option can be applied

Assessing potential impairment indicators, in deciding on impairment testing could be very complex, requiring sound judgement and technical expertise. At Southgate' we have a comprehensive approach to impairment testing which takes into consideration all elements of impairment such as fair value less cost to sell, value in use, carrying amount, recoverable amount, crucial to impairment testing.