"IFRS SYSTEM evolved out of Financial Reporting Specialists' (FRS, www.frsgroup.com.au) need for a superior automated financial reporting tool. In 2004 when FRS were looking for a tool that could assist them to prepare client's financial reports, they were unable to find one that did everything to the high standard required. They solved the problem by internally developing IFRS SYSTEM. Since 2004 IFRS SYSTEM has undergone extensive development and testing and it has been used successfully to prepare interim and annual financial reports for hundreds of clients. IFRS SYSTEM has now evolved into a 'commercially ready' application and in addition to its core financial reporting application, IFRS SYSTEM also offers other software, tools and books. IFRS SYSTEM products were marketed for the first time in 2010 and these products have quickly established themselves in leading accounting and auditing firms as well as large and small companies."--Publisher's website.