Introduction

In an increasingly complex and competitive global business environment, Corporate Governance and International Financial Reporting Standards (IFRS) have become essential pillars of financial transparency, accountability, sustainability, and investor confidence. As financial reporting continues to evolve, organizations must not only comply with existing IFRS requirements but also understand the implications of newly issued standards and disclosure requirements.

This comprehensive 5-day training program, designed by Global Horizon Training Center, provides participants with in-depth knowledge of Corporate Governance, IFRS, and the latest developments in financial reporting, including IFRS 18 – Presentation and Disclosure in Financial Statements. The program explores the relationship between governance and financial reporting, examines major corporate failures such as Enron and WorldCom, and provides practical guidance on preparing, analyzing, and interpreting financial statements under modern IFRS requirements.

Through interactive discussions, practical exercises, financial statement analysis, and real-world case studies, participants will gain the knowledge and skills required to prepare compliant financial reports, strengthen governance practices, and successfully navigate the transition to IFRS 18.

Objectives

By the end of this workshop, participants will be able to:

• Understand the importance and global impact of Corporate Governance and IFRS.
• Identify and prevent creative accounting and off-balance sheet financing practices.
• Recognize lessons learned from major accounting scandals and governance failures.
• Comprehend the structure, principles, and conceptual framework of IFRS.
• Understand the requirements and implications of IFRS 18.
• Identify key differences between IAS 1 and IFRS 18.
• Prepare and present financial statements in compliance with IFRS requirements.
• Apply Management-Defined Performance Measures (MPMs) under IFRS 18.
• Analyze the impact of IFRS adoption and ongoing standard-setting projects.
• Apply advanced financial analysis techniques including ratio analysis and Z-score models.
• Evaluate financial reports from different jurisdictions and compare IFRS with US GAAP and other reporting frameworks.
• Develop an implementation roadmap for IFRS 18 adoption within their organizations.

Target Audience

This program is specifically designed for:

• Chief Financial Officers (CFOs) and Finance Directors
• Accountants, Auditors, and Financial Analysts
• Controllers and Treasury Managers
• Corporate Governance Officers and Compliance Managers
• Internal Auditors and Risk Management Professionals
• Financial Reporting Managers
• Regulatory Compliance Professionals
• Professionals involved in financial reporting, consolidation, and disclosure processes

Detailed Outline

Day 1 – Corporate Governance, Financial Reporting and Ethical Accountability

• Principles and foundations of Corporate Governance.
• Governance frameworks and regulatory expectations.
• Relationship between governance, risk management, and financial transparency.
• The evolution and importance of IFRS in global capital markets.
• Creative accounting techniques and off-balance sheet financing.
• Identifying financial statement manipulation and earnings management practices.
• Case studies: Enron, WorldCom, and other governance failures.
• Corporate Social Responsibility (CSR), ESG reporting, and ethical accountability.
• Workshop: Analyzing governance failures and their impact on financial reporting.

Day 2 – IFRS Framework, Standard Setting and Emerging Developments

• Overview of IFRS and IAS standards.
• IFRS Foundation, IASB, and IFRS Interpretations Committee.
• Conceptual Framework for Financial Reporting.
• Objectives of general-purpose financial statements.
• Qualitative characteristics of useful financial information.
• Recognition, measurement, presentation, and disclosure concepts.
• Current IFRS developments and convergence projects.
• Sustainability reporting developments and links with financial reporting.
• IFRS adoption challenges and implementation considerations.
• Case Exercise: Reviewing the IFRS reporting practices of a multinational organization.

Day 3 – Financial Statement Preparation under IFRS and IFRS 18

Core IFRS Requirements

• IAS 8 – Accounting Policies, Changes in Accounting Estimates and Errors.
• IAS 10 – Events after the Reporting Period.
• IFRS 15 – Revenue from Contracts with Customers.
• IAS 16 – Property, Plant and Equipment.
• IAS 23 – Borrowing Costs.

IFRS 18 – Presentation and Disclosure in Financial Statements

• Background and rationale for IFRS 18.
• Transition from IAS 1 to IFRS 18.
• Scope and objectives of IFRS 18.
• New presentation requirements.
• Mandatory categories within the Statement of Profit or Loss:
  • Operating Activities
  • Investing Activities
  • Financing Activities
  • Income Taxes
  • Discontinued Operations
• Mandatory subtotals and enhanced comparability requirements.

Practical Workshop

• Preparing IFRS-compliant financial statements.
• Converting traditional IAS 1 presentations into IFRS 18 format.

Day 4 – Advanced IFRS Standards and Enhanced Disclosure Requirements

Advanced IFRS Topics

• IFRS 16 – Leases.
• IFRS 3 – Business Combinations.
• IAS 27 – Consolidated Financial Statements.
• IAS 36 – Impairment of Assets.
• IAS 37 – Provisions, Contingent Liabilities and Contingent Assets.
• IAS 38 – Intangible Assets.
• IFRS 7 and IFRS 9 – Financial Instruments.

IFRS 18 Disclosure Enhancements

• Management-Defined Performance Measures (MPMs).
• Reconciliation requirements.
• Aggregation and disaggregation principles.
• Disclosure of unusual income and expenses.
• Transparency and investor communication requirements.

Practical Workshop

• Review of global corporate annual reports.
• Identifying IFRS 18 disclosure requirements.
• Comparing disclosures under IFRS, US GAAP, and UK reporting practices.

Day 5 – Financial Analysis, IFRS 18 Implementation and Reporting Excellence

Financial Analysis and Interpretation

• Ratio analysis techniques.
• Common-size and trend analysis.
• Liquidity, solvency, profitability, and efficiency ratios.
• Working capital and cash flow analysis.
• Capital structure evaluation.
• Z-Score and financial distress prediction models.
• Introduction to regression and statistical analysis techniques.

IFRS 18 Implementation Strategy

• Organizational readiness assessment.
• Transition planning and implementation roadmap.
• Impact on KPIs and financial performance measures.
• ERP and reporting system considerations.
• Internal controls and governance implications.
• Best practices for sustainable compliance.

Final Integrated Case Study

• Analysis of a real IFRS annual report.
• Reclassification under IFRS 18.
• Preparation of Management-Defined Performance Measures (MPMs).
• Presentation of findings and implementation recommendations.