Aletta Boshoff has been named partner at BDO, as compliance with new accounting requirements under the International Financial Reporting Standards (IFRS) continues to drive demand for technical expertise.
Ms Boshoff joins BDO from Pitcher Partners, where she was technical director.
BDO believes the adoption of IFRS in Australia is one of the “biggest changes” in financial reporting this century.
“The next phase of this change is evidenced by the implementation of three new accounting standards: IFRS 15 Revenue from Contracts with Customers, IFRS 16 Leases and IFRS 9 Financial Instruments, over the next two to three years,” said BDO.
“It’s unlikely that any entity preparing general-purpose financial reports will not be impacted by one or more of these standards and we are seeing increasing demand for specialist advice and risk identification,” said David Garvey, managing partner at BDO Melbourne.
“The ‘triple trouble’ standards will impact how bad debt provisions are calculated, cause more financial assets to be measured at fair value, introduce very complex rules as to when revenue can be recognised and effectively scrap the operating lease classification, bringing all leases, together with the lease liability, onto a company’s balance sheet.
“Aletta is a great addition to the BDO team and we are fortunate to have someone with her experience leading on IFRS work in Melbourne and Sydney. She joins our experienced IFRS national specialists Wayne Basford, partner, Perth, and Clark Jarrold, partner, Brisbane.
“For many of our clients, having that specialist IFRS advice means they can compete abroad, raise capital, win global contracts and provide transparent company accounts for investors and regulators.
“Our clients are looking for expertise as well as practical, cross-border advice, which is why BDO’s global reach is also helping facilitate our growth in this area.”