IFRS Conversion Services
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IFRS Conversion Services

IFRS Conversion Services

With experienced practitioners sharing a common approach, KPMG in Laos can provide consistent, yet tailored, services for complex clients.

IFRS conversions should be managed in phases and work streams. The assessment phase is one of the most important phases, identifying accounting and reporting differences and assessing their impact on IT-systems, processes and the way to manage business. In the design phase, accounting policies are defined, blueprints for IT-system changes created and training modules prepared. In the final phase, all designed changes must be implemented and rolled-out

IFRS Conversion Services offers our firms’ clients:

  • a standardized, cost-efficient approach that is both flexible and adaptablean internationally developed, practice-tested methoduseful tools tailored for IFRS implementation.
  • an internationally developed, practice-tested method
  • useful tools tailored for IFRS implementation.

Our firms’ practitioners in IFRS conversion projects are extremely technically competent as well as being skilled advisors. They therefore balance the high level of technical accounting knowledge necessary for an IFRS conversion with the advisory skills which help the practitioner to manage their conversion project most effectively.

The nature of IFRS conversions is that many of our firms’ clients will never have done this conversion before and are unlikely to do it again. Our clients can leverage from our significant experience in conversion projects. They expect an advisor to provide all the support necessary in assisting them make the transition to IFRS as smoothly and effectively as possible.

Successful conversion engagements have many potential benefits for our firms’ clients’ business including:

  • enhancing competitiveness in a global market
  • facilitating the sourcing of capital on a global scale
  • potentially reducing financial reporting efforts and related costs
  • stimulating and simplifying benchmarking.

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