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RSM’s financial reporting resources bring together technical guidance and expertise on the various reporting standards and frameworks.
Whether you require support on the first-time adoption of a new standard, or specific advice relating to an existing framework, our financial accounting and advisory specialists can help.
Our IFRS guides provide practical insights, step-by-step implementation tips, and helpful tools. Whether you are a seasoned professional or new to IFRS, our features are tailored to support your journey. We recognize that practical guidance and clear illustrations are essential for grasping the nuances of these standards.
As your trusted guide, we are committed to simplifying IFRS complexities and ensuring your successful implementation. Feel free to explore our resources and reach out if you have any questions.
Understanding which financial reporting framework applies to your business
The applicable financial reporting frameworks in Kenya are either the International Financial Reporting Standards (IFRS) or the International Standard for Small and Medium-sized Entities (IFRS for SMEs).
IFRS is mandatory for public interest entities (listed companies, insurance companies, banks, saccos, pensions, equity funds, money market funds etc..) Companies that are not of public interest can elect to apply IFRS or IFRS for SMEs. The choice of either should be driven by the specific needs of the primary users of the financial statements.
