Financial reporting

Find updates, news and checklists related to financial reporting/IFRS

Tell your story effectively and transparently to all your stakeholders

Good reporting offers a window into the culture of the organisation. Recent years have seen a stronger emphasis placed on reporting quality, with tighter regulation and rising demands from stakeholders. Companies must work harder than ever to tell their story. From fast-growing start-ups to established multinationals, we work with companies to help them communicate clearly and effectively.

Our approach

Demands for greater financial transparency and proof of organisational sustainability are coming from many sides, including regulators, investors, and other stakeholders. The result: today’s reports are expected to go beyond reporting financials and embrace strategy, quality of governance, remuneration schemes, and even the organisation’s impact on the environment, employees, society and other stakeholders. 

This growing list of requirements has already placed a heavy burden on leadership teams and is likely to expand further. At Mazars, we have a strong track record helping our clients to meet – and exceed – the very latest corporate reporting standards. 

We bring together a team of professionals combining financial reporting and accounting knowledge with non-financial reporting expertise to deliver a pragmatic business approach. 

We regularly support our clients offering them integrated solutions in the following areas: 

Financial aspects

  • Implementing new accounting standards
  • Addressing complexities arising from proposed new accounting standards and guidance
  • GAAP conversions
  • Mergers and acquisitions
  • Consolidations support
  • Group reorganisations
  • Complex consolidations
  • Financing structures
  • Capital reductions
  • Purchase price allocation valuations
  • Share-based payment valuations
  • Pension scheme arrangements
  • Infrastructure projects

Non-financial aspects 

  • Developing non-financial, integrated annual reports
  • Assisting with establishing corporate governance risk disclosures
  • Collecting and collating nonfinancial data to support reporting to management, the board and external disclosures
  • Identifying key performance indicators
  • Providing support on developing integrated reporting frameworks

Our “Beyond the GAAP” monthly newsletter highlights our approach and our expertise, offering insights into the thinking of national and international accounting standards bodies plus other organisations that can affect corporate reporting such as securities regulators.

Our tools & solutions

We have a continuous innovation process to design and develop bespoke tools and solutions that support our work and help us provide more value and better insights. How we can assist: 

  • IFRS services:
    • Financial statement reviews
    • IFRS advise and memorandums
    • IFRS opinions
  • IFRS for SMEs services 
  • JSE Listings Requirements
  • Training and webinars

JSE Accreditation

Mazars is accredited with JSE Limited to perform IFRS advisory services for listed companies. Mazars has two internal IFRS advisors, Suzanna de Jager and Justine Combrink, who specialise in International Financial Reporting Standards.

Our people

We have professionals dedicated to the analysis of emerging accounting and corporate reporting standards, familiar with regulatory requirements in different parts of the world and with extensive experience across different industries.

Members of our team meet regularly with policymakers, participate in industry working groups and collaborate as one global, integrated team to share knowledge and best practice, meaning we are well placed to be proactive in advising our clients on the forthcoming standards and their implications.

Please download latest checklists and documents below: 


SA Supplementary checklist for non-listed entities
SA Supplementary checklist for non-listed entities
SA Checklist for JSE short-form announcements
SA Checklist for JSE short-form announcements
REIT Checklist entities listed on the JSE
REIT Checklist entities listed on the JSE
Disclosure Checklist - SA supplementary checklist for JSE listed summarised financial statements Apr 2021.
Disclosure Checklist - SA supplementary checklist for JSE listed summarised financial statements Apr 2021.
Disclosure checklist - SA Supplementary checklist for JSE listed entities - Apr 2021
Disclosure checklist - SA Supplementary checklist for JSE listed entities - Apr 2021
IFRS standards and amendments not yet effective (fin year 2020)
IFRS standards and amendments not yet effective (fin year 2020)
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Standards and Interpretations issued and not yet effective

New Standards and Interpretations not adopted

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IFRS for SMEs: The IFRS comparison

The South African Companies Act allows companies to prepare their financial statements in accordance with one of two frameworks, International Financial Reporting Standards (IFRS), and, if they are not listed, in the process of listing, or a state owned entity, IFRS for Small and Medium-sized Entities (IFRS for SMEs).

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Amendments to IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors (IAS 8)

The International Accounting Standards Board has issued an amendment to IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors in order to more clearly define an accounting estimate and assist users in distinguishing between a change in accounting policy and a change in accounting estimate.

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Amendments to IFRS Standards to improve accounting policy disclosures.

The International Accounting Standards Board issued a narrow scope amendment to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2 Making Materiality Judgements to assist preparers in identifying which accounting policies to include in their financial statements by replacing the requirement to disclose all ‘significant’ accounting policies to all ‘material’ policies.

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Accounting for Lessee COVID-19 rent concessions

The novel coronavirus of 2019 (‘COVID-19’) is an unprecedented event that has changed the world we live in today. COVID-19 has also prompted accountants to reconsider how certain transactions are accounted for, particularly rent concessions received by lessees as a direct result of COVID-19.

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IFRS for SMEs second comprehensive review update

The IASB has issued a staff paper that deals with a project plan for the second phase of the review, this paper deals with providing responses obtained from stakeholders who have provided feedback on the alignment approach and principles in the Request for information.

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CEO / CFO financial statement and internal financial control responsibility statement

The JSE requires that CFOs and CEOs of issuers, prepare and present a responsibility statement regarding the effectiveness and adequacy of internal financial controls and the fair presentation of presented financial information. But do you know how to prepare this?

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JSE Proactive Monitoring 2020 report and combined findings

The JSE published its latest proactive monitoring report for the year 2020. This report provides an overview of the JSE’s detailed findings from their monitoring activities and summarises the main issues from a reporting perspective that preparers (listed and non-listed) should strongly consider when preparing their respective financial statements.

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Covid-19 IFRS 16

IFRS 16 further amendment to COVID-19 related rent concessions

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Business combinations under common control

The IASB issued a discussion paper in November 2020 on Business combinations under common control

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