Omani companies preparing financial statements under International Financial Reporting Standards face a steady stream of new and revised standards — IFRS 9, 15, 16 and 17, and now IFRS 18's changes to income statement presentation — each requiring technical judgement, system changes and staff readiness well before year-end. Getting implementation wrong creates audit findings, restated accounts and credibility problems with lenders and shareholders.
Kreston Menon Al Dohh supports finance teams across Oman through IFRS implementation projects and technical training, translating complex standards into practical accounting policies, disclosures and processes your team can apply with confidence.
IFRS implementation is as much about people as policy. We combine technical accounting expertise with hands-on training, so your finance team doesn't just receive a new accounting policy manual — they understand the judgement behind it and can apply it consistently, year after year, without ongoing external support.
Identifying where current accounting policies diverge from IFRS requirements, including new and revised standards.
Policy development, transition adjustments and disclosure drafting for standards such as IFRS 9, 15, 16, 17 and 18.
Support for entities transitioning to IFRS for the first time, including opening balance sheet preparation and comparative restatement.
In-house and public IFRS training for finance teams, boards and audit committees, tailored to your sector and reporting complexity.
Deep technical accounting expertise combined with practical, Oman-market implementation experience.
Training designed for real finance teams, not generic slide decks.
Experience across sectors most affected by recent standards — insurance (IFRS 17), leasing-heavy businesses (IFRS 16) and revenue-complex sectors (IFRS 15).
Support that builds internal capability rather than creating ongoing dependency.
Financial statements that are technically compliant and audit-ready.
A finance team confident in applying IFRS judgement independently.
Fewer audit findings and cleaner year-end close processes.
Stronger credibility with auditors, lenders and shareholders.
Most companies preparing statutory financial statements in Oman apply IFRS or IFRS for SMEs, depending on entity size and regulatory requirements, particularly for MOCIIP filings, bank financing and CMA-regulated entities.
IFRS 18 changes how companies present their income statement, introducing new required subtotals and categories, and replaces IAS 1's more flexible presentation approach. Companies should begin readiness assessments ahead of their effective transition date to avoid a rushed first-time application.
Timelines vary by standard and business complexity — a focused single-standard implementation (such as IFRS 16) might take six to eight weeks, while broader multi-standard transitions or first-time IFRS adoption can take several months.
