Accounting services
IFRS advisory and conversion in Qatar
Thiqa Consulting supports IFRS reporting in Qatar. We help companies move to IFRS from cash-based or other accounts, prepare for new standards such as IFRS 18, account for complex transactions and check the disclosures in their financial statements. Tell us your year end and who needs the IFRS accounts, and we send a written proposal.
Reading glasses resting on an open book
- Conversion to IFRSFrom cash-based or other accounts
- New standardsReady for new and amended standards
- Complex transactionsAdvice on how to account for them
- Disclosure checksNotes checked against IFRS requirements
Who asks for IFRS help
Many companies keep simple or cash-based accounts until a bank, an investor, a parent company or the auditor asks for financial statements under IFRS.
Others already report under IFRS and need help when a new standard arrives or a large transaction does not fit the usual entries.
What we do
From a first review to IFRS financial statements, the work comes in six parts. You choose what you need.
Gap assessment
We compare how your accounts are kept today with what IFRS requires.
Conversion to IFRS
We move your accounts to IFRS from cash-based or other accounts.
Opening balances and comparatives
We restate the opening balances and prior-year figures on an IFRS basis.
New standards
We show what a new standard, such as IFRS 18, changes in your statements.
Complex transactions
We advise on how to account for transactions that do not fit the usual entries.
Disclosure checks
We check the notes to your financial statements against IFRS requirements.
IFRS advice is not an audit. If we help prepare your accounts, a different auditor must audit them.
How a conversion works
- 1
Assess the gaps
We review your current accounts and list what changes under IFRS.
- 2
Set the policies
We agree the accounting policies with you in writing.
- 3
Restate the figures
Opening balances and comparative figures are restated under IFRS.
- 4
Prepare the statements
The financial statements and notes are prepared and checked.
Documents we need from you
- Your last financial statements
- Trial balance for the current and prior year
- Fixed asset and loan details
- Key contracts, such as leases and large customer contracts
- Group structure, if you are part of a group
- Your auditor’s comments on the last accounts
Get expert advice for your business
Tell us what you need. We reply with a written proposal covering the scope, the documents we need and the timeline.
Common questions about ifrs advisory and conversion
Answers about the service, the work involved and what to prepare. Open a question to read more.
What is IFRS in Qatar?
IFRS are the international accounting standards issued by the IFRS Foundation’s standard setter, the IASB. The Foundation’s profile for Qatar, last updated in June 2016, says listed companies must use them under the Qatar Financial Markets Authority’s rules. Qatar’s Income Tax Law also requires books kept in line with international accounting standards. We confirm which rules apply to you first.
Is IFRS advice the same as an IFRS audit?
No. IFRS advice helps you prepare accounts that follow IFRS. An audit is an independent check of those accounts. For the tax return, Qatar’s Executive Regulations say the person who audits the final accounts cannot be someone who helped prepare them. If we help prepare your accounts, a different auditor must audit them for tax purposes.
When does IFRS 18 apply?
IFRS 18, Presentation and Disclosure in Financial Statements, replaces IAS 1. It applies to annual reporting periods beginning on or after 1 January 2027, and companies may apply it earlier. For a company with a December year end, that means the 2027 financial statements. We review your current statements and show what needs to change.
What does an IFRS conversion involve?
A conversion starts with a gap assessment: comparing how your accounts are kept today with what IFRS requires. Next come accounting policies, opening balances and restated comparative figures. Then the financial statements and notes are prepared under IFRS. How long it takes depends on your starting point, so we agree the scope in writing first.
What is the difference between IFRS and cash-based accounts?
Cash-based accounts record income and costs when money comes in or goes out. IFRS accounts use the accrual basis: revenue is recorded when it is earned and costs when they are incurred, whatever the payment date. IFRS also brings in items such as provisions and leases, and needs fuller notes to the financial statements.
Answers checked against the IFRS Foundation’s website and the General Tax Authority’s published texts on 13 October 2026. IFRS Foundation
Tell us what you need. We reply with a written proposal.
You get the scope, the papers we need and the time it takes.
- 1You send your details by WhatsApp or email.
- 2We read them and ask anything we need to know.
- 3You get a written proposal: scope, papers and timing.