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IFRS News is your quarterly update on all things relating to International Financial Reporting Standards. We’ll bring you up to speed on topical issues, provide comment and points of view and give you a summary of any significant developments.

This illustrative set of financial statements sets out good practice in the application of the presentation and disclosure requirements of IFRS for year-end reporters. It reflects changes in IFRS that are effective for the year ending 31 December 2013.

Grant Thornton understands that multinational tax challenges are among the most complex and expensive issues facing companies with international operations. And expatriate tax issues are a key consideration for companies working across borders.

This publication provides a high-level summary of recent changes to IFRS that will affect companies' future financial reporting. Changes are colour coded to help Chief Financial Officers identify the changes that will affect them most.

Drawing on data and insight from the Grant Thornton IBR, the Economist Intelligence Unit and the International Monetary Fund (IMF), this short report considers the outlook for the Thai economy, including the expectations of 200 business leaders interviewed in Thailand and more than 10,000 globally, over the past 12 months.

Private equity has always focused on creating value and helping promote growth in portfolio companies. Since the industry began, private equity firms have tried many ways to meet this ultimate objective – and with varying success. Now, post the global financial crisis, the question being asked more than ever is: how can private equity deliver its value-added promises?

Recession, economic uncertainty, and market volatility have forced many miners out of the industry and brought others to the point of insolvency.

New research shows that rising optimism in Quebec is feeding into brighter business growth prospects but that bureaucracy is constraining those very same growth plans. The results from Grant Thornton’s International Business Report (IBR), a survey of 2,500 senior executives in 34 economies, reveals that despite the roadblocks, businesses in Quebec are focused on incentivising productivity improvement and enhancing sales force effectiveness in a bid to boost growth over the next 12 months.

With momentum building towards the UN Climate Change Conference in Peru, new figures from IBR reveal that businesses leaders in emerging markets are more focused on the sustainability of their operations compared with peers in developed markets.

Investor calls for transparency and the rise of social media have thrust the impact businesses have on the economy, the environment and society more firmly into the spotlight. Drawing on more than 2,500 interviews with business leaders in 34 economies, Corporate Social Responsibility: beyond financials, looks at how companies are responding to this challenge; how they are making their operations more sustainable and what role they feel integrated reporting can play.

We believe that dynamic organisations need to apply both reason and instinct to decision making. Deciding which markets your business should operate in is no different.

Grant Thornton understands that multinational tax challenges are among the most complex and expensive issues facing companies with international operations. And expatriate tax issues are a key consideration for companies working across borders.

Outsourcers need to become true business partners. Read our report on the matter.

After more than five years in development the IASB and FASB have at last published their new, converged Standard on revenue recognition – IFRS 15 ‘Revenue from Contracts with Customers’. IFRS 15 replaces IAS 18 and IAS 11 and will affect almost every revenue-generating entity that applies IFRSs. We applaud the two Boards for delivering a converged Standard in this critical area.

The third edition in our 'Future of Europe' series looks at three distinct aspects of the regional business, economic and political landscape: recovery, integration and expansion.

Two in five mid-market businesses around the world either currently outsource a back-office process, or plans to in the near future.