Financial Reporting - IFRS First-Time Adoption – The Impact On Aim Interim Reports

AIM companies can look to a number of different pronouncements when deciding on the content of their first IFRS interim report.

Aim Rule 18 sets out what Aim companies must include in their interim reports. In addition, the newly updated Accounting Standards Board's (ASB) statement on 'Half Yearly Financial Reports' and IAS 34 'Interim Financial Reporting' both provide best practice guidance as to additional disclosures. Aim companies also have a further choice as to whether or not they want to gain the additional comfort of an auditor's review. The requirements for such a review are set out in International Standard on Reporting Engagements 2410: Review of Interim Financial Information Performed by the Independent Auditor of the Entity (ISRE 2410).