GSPU prepares and presents financial statements for its clients following International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS). Different countries’ accounting principles have evolved, making international company comparisons difficult. A set of guidelines and rules are used to ensure uniformity and comparability between financial statements prepared by different companies. These guidelines, known as Generally Accepted Accounting Principles (GAAP), serve as the foundation for the preparation of financial statements.

The International Accounting Standards Board (IASB) has recently made a push to standardize accounting rules. The IASB creates International Financial Reporting Standards (IFRS), which are widely used in many countries.

Over 100 countries currently permit or require IFRS for public companies, with more countries expected to follow suit in the coming years.