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Introduction

International Financial Reporting Standards (IFRS) provide the basis for financial reporting for the natural resources sector.

1st

We’re ranked No.1 as auditors to LSE Basic Materials companies and to LSE Energy clients

One of the key challenges of any reporting framework is how best to implement it in the context of a specific company or industry. IFRS is a principles based framework, short on industry specific guidance. 
That and the increasing levels of regulation can make it difficult for management to be clear about what it needs to provide to auditors to support their decision making, and also to provide stakeholders with the clarity they require to make informed decisions.

We look at how these issues should be addressed, what your auditor will require, and what management will need to consider to ensure an effective audit.

The guide is not meant to be fully comprehensive, but to shed light on areas we, as natural resource  experts, see as the core issues. We would encourage management to conduct additional research where necessary and to contact us for any further guidance they might require.

Key Insights

Shedding light on six key sector related accounting issues

Your experts

We are specialists in the natural resources sector

Understanding such global, technically complex businesses has become a specialism of ours. Ranked 1st as auditors to LSE Basic Materials companies and to LSE Energy clients, we act for over 100 businesses from private companies to large listed multinational groups.