IFRS Implementation Services

“The movement toward International Financial Reporting Standards (IFRS) as a single set of globally accepted accounting standards is quickly gathering momentum. The benefits of IFRS include enhanced comparability and improved transparency of financial reporting.”

A growing number of companies are adopting IFRS as a basis of accounting or parallel reporting, on a voluntary basis or as a result of regulatory requirements.

Implementing IFRS has an impact on all aspects of a company, including financial reporting systems, internal controls, taxes, treasury, management compensation, cash management, and legal, among others.

Our IFRS specialists can assist your conversion to IFRS by providing the appropriate resources, knowledge and practical support in the following areas:

• Development of new IFRS accounting policies and procedures;
• Gap analysis between information required and currently available;
• Consideration of impact on statutory reporting and tax accounting;
• Identification of changes required to source systems;
• Understanding the financial and business impacts of IFRS conversion;
• Determination of possible actions to mitigate the volatility of results under IFRS;
• Understanding steps to support parallel reporting (i.e. Country Specific Accounting Principles, management reporting, IFRS);
• Training and coaching support, including IFRS theory, practical implication of IFRS transformation and consolidation.