IFRS Implementation and Advisory Services

All Spanish groups listed on regulated markets are required to prepare their consolidated financial statements in accordance with the International Financial Reporting Standards (IFRS) as adopted by the European Union. In the case of unlisted groups, they may choose to prepare their financial statements under IFRS or under Spanish GAAP for consolidated accounts (NOFCAC – Royal Decree 1159/2010).

It is increasingly common for unlisted companies to opt for IFRS, particularly when they have foreign investors or plan to seek financing in international markets. The globalization of markets encourages the use of a common “language” when preparing financial information for users and other stakeholders.

If you are considering a transition to IFRS, we can help you understand the standards and prepare for the changes. We assist in managing the transition process, assessing the impact of the adopted accounting standards, and implementing them. We have extensive experience supporting entities and organizations through their IFRS transition.

Some of the accounting standards that have come into effect in recent years are particularly complex and/or have a broad scope, significantly impacting how a company presents its results and financial position (e.g., IFRS 9, 15, or 16).

Looking ahead, IFRS 18 (effective from 2027) will change the requirements for the presentation and disclosure of information in financial statements. Its goal is to ensure that financial statements provide relevant information that faithfully represents an entity’s assets, liabilities, equity, income, and expenses. This will lead to significant changes in the format of the income statement and introduce new disclosure requirements regarding “non-GAAP measures” used by financial statement preparers.

BDO Spain is part of the BDO Global IFRS Policy Committee, the international working group responsible for defining BDO’s global IFRS strategy. This means our professionals have access to the resources and expertise needed to ensure a successful IFRS implementation process.
 

Our Services

• Advisory on the transition to International Financial Reporting Standards (IFRS)
• Guidance on the application of IFRS 9, 15, 16, or 18
• Training on IFRS updates
• Analysis of differences between IFRS and local accounting standards