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ARTICLE · 03 JULY 2012

IFRS: Transitional Impact On Transfer Pricing Analysis

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Transfer pricing involves the determination of an arm’s length price that one member of a multinational firm should charge another for the sale of goods.

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Eric Koh
Eric Koh
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Companies may interpret and apply IFRS differently, which may compromise comparability of financial statements

Transfer pricing involves the determination of an arm's length price that one member of a multinational firm should charge another for the sale of goods, services and intangibles across provincial/state and international borders. The determination of an arm's length price for a transaction between related parties is a complex, subjective and lengthy exercise. The planned switch to International Financial Reporting Standards ("IFRS'') in many countries will considerably complicate matters. IFRS is a set of accounting standards developed by the International Accounting Standards Board. Currently, over 100 countries allow or require publicly traded companies to prepare their financial statements in accordance with IFRS. The member countries of the European Union have required the use of IFRS since 2005 while other countries like Canada have only recently made

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