International Financial Reporting Standards (IFRS)

Our experts have deep knowledge and relevant experience in solving complex issues related to the International Financial Reporting Standards (IFRS).

IFRS convergence or implementation of new accounting standard could be a major or minor change to an organization and the change could affect company financial results, people, processes and the information system.

Our services include:

  • IFRS implementation and advisory
  • IFRS accounting policy advice
  • IFRS corporate training
  • IFRS diagnostics and GAP analysis Producing data for
  • IFRS Preparing
  • IFRS financial statements

Our IFRS Implementation Methodology

Phase 1
Scope & Impact Assessment

Review of old and new accounting policy; impact assessment and preparation of GAP analysis, review and identification of functions affected; review of financial statement, management reports, business processes, governance structure, together with discussions with management to outline all the affected areas. Evaluation of first-time adoption exemptions and accounting policy choices.

Phase 2
Design, Test & Develop

New accounting policies, processes, revised chart of account, revised KPIs and
management and operational training plans are designed and agreed with the management; training is delivered; designing internal and external financial reports, along with testing.

Phase 3
Implement

Process and technology changes will be go-live; IFRS compliance reports will be generated; presentation and disclosure modification are generated and reviewed.

Phase 4
Review

Post-implementation review and validation.

 

how can we help you?

Contact us at the accountaxsquare office nearest to you or submit a business inquiry online.

Email:
nadir.malik@accountaxsquare.co.uk

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Agreement

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Execution

Engagement team will execute the service within timeline and with high customer satisfaction

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