IFRS Reporting
As the world moves towards global accounting standards, many
companies must deal with the issues raised by the need to convert
their financial reporting systems to comply with International
Financial Reporting Standards (IFRS). The complexities of
converting to IFRS pose a considerable drain on time and resources
for any financial department, requiring potentially hundreds of
hours of work to deal effectively with all matters arising.
Using specialist teams, our member firms can provide training and
assistance, managing the complete conversion process for their
non-audit clients, ensuring that they have the resource they need,
for the period that they need it.
Our members offer a four-stage process for clients requiring IFRS
conversion, including:
- Preliminary fact assessment
- Detailed planning
- Implementation
- Post-implementation review.
Whether it is describing the differences in reconciliations of
published accounts or providing a clear audit trail for boards and
auditors, our members' conversion tools and proven methodology can
ensure a smooth and painless transition to IFRS.