The IFRS for SMEs Accounting Standard is a self-contained standard designed for entities without public accountability that publish general-purpose financial statements.

GAAP and IFRS are the two major standards used worldwide. Accounting principles are guidelines companies must follow when recording and reporting accounting transactions. They bring uniformity to ...

The Auditor General of South Africa has criticized the Road Accident Fund for its refusal to use approved accounting standards, delivering another adverse audit outcome for the 2023/24 financial year.