International Accounting Standards
IAS / IFRS · IFRS standards
With extensive experience in preparing financial statements under IAS / IFRS, our accounting office handles both the usual adjustments required and more complex matters.
2005
IAS in the European Union
The transition to international standards
The European Union’s adoption of International Accounting Standards (IAS) in 2005 represents Greece’s accounting revolution of the 21st century. Greek businesses faced significant challenges as they were required to align with international requirements and rethink established views and practices.
A transparent financial picture
The economic crisis experienced by Greek businesses in recent years, with its adverse effects on operating profitability and liquidity, has highlighted the need for greater transparency and a more accurate presentation of businesses’ financial position.
A common framework of principles
Applying IFRS achieves a common standard of quality in financial reporting in Europe by seeking a generally accepted framework of principles and strengthening rational financial decision-making. As a key tool for effective business management, IFRS are dynamic and are developed and revised regularly to support business strategy.