In-depth support transitioning to IFRS

In-depth support transitioning to IFRS

Full support of the company in the transition to IFRS and preparation of financial statements in accordance with the requirements of IFRS.

Support the company in the transition to IFRS and preparation of financial statements.

Essential Services

In-depth support encompasses a full range of consulting services that guarantee comprehensive support for your company in the process of transitioning to IFRS and preparing of IFRS financial statements.

 

Details

  • Stage 1: Diagnostics – an in-depth, detailed analysis of your company’s current situation regarding accounting and reporting readiness for transitioning to IFRS, as well as the identification of any key issues (including analysis of primary documents).
  • Stage 2: Methodology and transformation – KPMG provides methodological support to facilitate the development of models and algorithms for calculating IFRS adjustments and completing transformation tables for transitioning from Ukrainian GAAP to IFRS.
  • Stage 3: Preparing draft IFRS financial statements – KPMG helps your company to prepare a package of financial statements, including notes for interim and/or annual financial statements.
  • Stage 4: Accounting policy – KPMG helps your company to prepare a draft IFRS-compliant accounting policy that takes into account tax and regulatory requirements, and the specifics of your company’s business operations.
  • If requested, KPMG can further analyse and identify the potential tax implications and risks associated with your company’s transition to IFRS.

Benefits and Opportunities

  • Your company gets a comprehensive and high-quality ‘turn-key project’, preparing for its transition to IFRS.
  • Producing financial statements in accordance with all IFRS requirements minimises the risk of needing to make adjustments in following reporting periods.
  • Your company will painlessly adopt the best IFRS practices with the help of KPMG specialists.
  • This service is flexible and encompasses the transition of one or several separate business components, or a combination of components.
  • Support from KPMG specialists will simplify and ease the process for mandatory audits of your company’s annual financial statements.

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