Q-Park Accounting and Reporting Standards (QARS)

The goal of QARS is to make Q-Park financial reporting more transparent and comparable. It provides theoretical and practical guidance for the application of Q-Park accounting and reporting policies under International Financial Reporting Standards (IFRS).

It specifies the concepts and principles that Q-Park NV and its group companies are required to apply for group accounting and reporting purposes. The quality of our accounting and reporting information is determined by its understandability, relevance and materiality, and reliability.

The objectives of QARS are;

  • Ensure uniformity in accounting and reporting throughout Q-Park;
  • Ensure compliance with IFRS;
  • Summarize accounting and reporting policies which are applicable to Q-Park;
  • Document which accounting and reporting policy choices have been made.

Governance

The content of QARS and choices in the application of accounting policies are the responsibility of the Executive Board, more specific the Chief Financial Officer (CFO).

QARS is maintained by Group Control, who is responsible for keeping the manual up to date, in line with changes in IFRS, legislation and developments within Q-Park.

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