IFRS consultancy and services
Keeping control of accounting and reporting obligations at home and across more countries represents a challenge for any international business.
With a rapid growth of global corporations and business transactions, it is becoming increasingly important to introduce and follow IFRS. Not only it helps to benchmark your organization against competitors and unify your reporting language across subsidiaries internationally, but they also provide a transparent picture of your financial operations to potential investors.
It can be difficult to navigate through extensive IFRS guidelines and follow their frequent updates to correctly apply them. Our in-country experts offer both the best-practice compliance and complex IFRS advisory while also dedicated consultancy on various aspects of IFRS – addressing the specific needs of your organization.
Benefit from the support of our dedicated experts on IFRS accounting and reporting
Whether you are interested in professional consultancy on employee benefits, income, leasing, value adjustments or financial instruments, our experienced consultants will advise the right solutions to match your current business needs or strategic future plans.
We offer comprehensive IFRS advisory services ranging from the audit of your current accounting practices and development of new accounting procedures, further to the analysis of possible reporting alternatives under IFRS and their impact on your company’s key performance indicators and financial reporting.
Starting with IFRS conversion
Have you discovered that your company is qualified for IFRS reporting? We will help you set up correct accounting procedures, such as:
- Preparation of the first financial statements
- Set-up of new accounting practices and methods
- Preparation of internal guidelines
- Identification and calculation of the difference between IFRS and SAS
- Consultancy on mandatory and voluntary exemptions to the retroactive approach for transition of accounting
Adopting new IFRS Standards
Whether you need help with setting up the new standards that are in effect, such as IFRS 15, IFRS 16, IFRS 9, or you are affected by a new standard due to your recent business transaction, we can provide you with an independent view on the most effective way to adopt the new standards covering:
- Assistance with implementation of a new standard
- Set-up of appropriate reporting
- Disclosure of the impact of the new standard
- Review of the current settings
- Assessment of the current contracts in relation to the new standard
- Development of accounting policies in relation to the new standard
- Set-up of the new accounting processes, reporting and disclosures
- Audit assistance
Preparation of IFRS individual and consolidated financial statements
While you might not need complex IFRS consultancy, we could prepare any financial statement in accordance with IFRS for you to save you time and resources. Our professionals are always up to date with the current standards and can ensure that your financial statements are consistent, transparent and compliant.
Specific management reporting under IFRS
Whether you are implementing a new accounting system or just streamlining the current processes to improve the quality of your outputs, we can help you with:
- Advice on implementation of new accounting system and reporting settings
- Reporting automation
- Set-up of a chart of accounts, accounting policies
- Set-up of reporting for parent company due to differences between IFRS and SAS
IFRS for acquisition or restructuring
The conditions of the market frequently change, and organizations often adjust their structures to increase or maintain their business value. IFRS has a set of specific rules for restructuring activities and organizational changes that we can help you navigate and comply with in your interim financial statements.
IFRS trainings and webinars
We understand that transition to IFRS can be challenging for your organization as the standards can be unclear and too complex to interpret and apply for new users. Also, we experienced that frequent changes and updates of IFRS make it difficult for companies to follow and stay compliant with.
Therefore, based on our experience and know-how of IFRS, we offer customized employee trainings to either foster basic understanding of IFRS and IAS or to train your specialists on the latest amendments to the standards.
The trainings can be fully customized to meet to your needs and provide the best learning experience for your team.