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:
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: