Parallax

A defensible IFRS / GRAP technical review in minutes, not hours.

Parallax gives your senior managers a structured, citation-backed technical review on every engagement, without a specialist on every file. Your team applies the judgement. Parallax runs the systematic process.

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No credit card required · 41 IFRS standards · GRAP · IFRS for SMEs

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ACME Ltd

Full IFRS (IASB) · 31 Mar 2024 · ZAR

Running AI review…

Pipeline Status

Parse

Extract

Checklist

Anomaly

Language

AI Review

Report

Checks

Passed

Failed

Flagged

Language

Findings

IAS 1 — Presentation of Financial Statements 2 Fail

Fail IAS1-112

Maturity analysis of financial liabilities absent from notes.

Checklist

"Borrowings are repayable in equal monthly instalments over periods of one to five years."

The notes describe repayment terms narratively but present no maturity analysis of contractual undiscounted cash flows by time band. Trade payables and lease liabilities are not covered at all.

Fail IAS1-134

Capital management objectives not disclosed.

Checklist

"The Group manages its capital structure in the light of changes in economic conditions."

IAS 1.134–136 requires the entity's objectives, policies and processes for managing capital, plus summary quantitative data. A single-sentence policy statement gives no gearing measure, monitoring process, or note of externally imposed capital requirements.

IFRS 16 — Leases 1 Flag

Flag IFRS16-47

ROU asset reconciliation missing opening balance sub-total.

Checklist

"Right-of-use assets: additions 4 210 000; depreciation (3 087 000); closing carrying amount 18 640 000."

The right-of-use asset reconciliation presents additions and depreciation but omits the opening balance sub-total by class of underlying asset, so the movement cannot be agreed to the prior-year closing position.

Language review 1 Flag

Flag LANG-004

4 undefined acronyms detected

Language

How it works

A consistent financial statements review methodology, every time.

The same structured process on every engagement. No setup, no field mapping, no templates.

01 · Organise

Your portfolio, one place

Add companies and assign each to the right accounting framework. Parallax keeps all their statements, reviews, and history neatly together.

Orbital Bedrock

Companies

ACME Ltd

IFRS | South Africa

3 statements 2 signed off

View statements

ACME Capital

IFRS SME | United Kingdom

1 statement 1 in review

View statements

Add company

02 · Process

Upload once, review in minutes

Upload a PDF and Parallax runs the full process: structured extraction, IFRS disclosure checklists, cross-statement tie checks, and qualitative red flag analysis. Your senior manager picks up a structured, prioritised set of findings to review.

ACME Ltd

Full IFRS (IASB) · South Africa

3 statements · 2 signed off · 1 pending sign-off

Mar 2024 Pending sign-off

Period ended 31 Mar 2024 · Uploaded 12 Feb 2025

Full IFRS (IASB) · ZAR

4 language | ● 7 passed ● 3 flagged ● 2 failed of 12 checks

Mar 2023 Signed off

Period ended 31 Mar 2023 · Uploaded 08 Apr 2024

Full IFRS (IASB) · ZAR

● 10 passed ● 1 flagged of 11 checks

Mar 2022 Extracting data…

Period ended 31 Mar 2022 · Uploaded 21 Mar 2025

ZAR

03 · Review

Every finding, paragraph-referenced

Every finding is cited to the exact IFRS paragraph. Your reviewer accepts, escalates, or dismisses each one. Sign-off generates a timestamped, immutable PDF report: a defensible record of who reviewed what, and when.

ACME Ltd

Medium risk

Full IFRS (IASB) · 31 Mar 2024 · ZAR

Checks

Passed

Failed

Flagged

Language

3 of 7 material findings actioned (4 remaining)

Needs Attention 4 Actioned 3 Checklist 12 All 14

AI findings 1 Flag

Flag AI-REVENUE

Revenue +34% YoY but operating cash flow down 12%.

Qualitative red flag for reviewer evaluation — not a conclusion. Cross-check the revenue recognition policy note against the movement in contract balances.

AI Reasoning

Revenue grew 34% year on year while operating cash flow declined 12% and trade receivables rose 41%. This pattern can indicate revenue recognised ahead of collection. Review cut-off, contract assets, and credit terms granted near year-end.

IAS 1 — Presentation of Financial Statements 1 Fail

Fail IAS1-134

Capital management objectives not disclosed.

Checklist

"The Group manages its capital structure in the light of changes in economic conditions."

IFRS 16 — Leases 1 Flag

Flag IFRS16-47

ROU asset reconciliation missing opening balance sub-total.

Checklist

"Right-of-use assets: additions 4 210 000; depreciation (3 087 000); closing carrying amount 18 640 000."

Language review 1 Flag

Flag LANG-004

4 undefined acronyms detected

Language

Capabilities

A systematic process your whole team can follow

Standardised methodology, paragraph-referenced findings, and a signed-off PDF report, built for teams that need structured IFRS coverage without a specialist on every file.

Structured AI Extraction

Parallax extracts every line item, total, and disclosure note from your PDF into a validated, structured schema. No manual data entry. No copy-paste errors.

statement_of_financial_position
total_assets: 42 840 000
total_liabilities: 18 320 000
equity: 24 520 000

Deterministic

Disclosure Checklists

Rule-based checkers cover all 41 IFRS standards across six implementation phases, entity-gated so you only see findings relevant to the entity under review. Hard fails for clear violations, soft flags for professional judgement. Your reviewer decides; Parallax records the outcome.

Also supported: GRAP (South Africa)

Maturity analysis absent ECL methodology not described ROU asset reconciliation incomplete Going concern basis not explained Revenue policies disclosed

Anomaly Detection

Cross-Statement Tie Checks

Automatically reconciles totals across statements and flags ratio anomalies. Catches the errors that slip through manual review.

XSTMT-1 Net profit ties to equity movement
XSTMT-3 Cash closing balance reconciliation
RATIO-2 Current ratio outside expected range

AI Red Flag Analysis

A second analysis pass surfaces qualitative concerns (disclosure quality, policy language, emerging judgement areas) that deterministic rules cannot catch. These are findings for your reviewer to evaluate, not conclusions.

AI-REVENUE Revenue recognition policy ambiguity
AI-IMPAIR CGU impairment disclosure gaps
AI-GOING-CONCERN Going concern language review

Parallax

A consistent financial statements review methodology, every time.

Your portfolio, one place

Upload once, review in minutes

Every finding, paragraph-referenced

A systematic process your whole team can follow

Structured AI Extraction

Disclosure Checklists

Cross-Statement Tie Checks

AI Red Flag Analysis

Built for IFRS. Ready for what comes next.

See your financials
from a different angle.

Parallax

A consistent financial statements review methodology, every time.

Your portfolio, one place

Upload once, review in minutes

Every finding, paragraph-referenced

A systematic process your whole team can follow

Structured AI Extraction

Disclosure Checklists

Cross-Statement Tie Checks

AI Red Flag Analysis

Built for IFRS. Ready for what comes next.

See your financialsfrom a different angle.

See your financials
from a different angle.