Today over one hundred countries have adopted International Financial Reporting Standards (IFRS) either as originally issued by the International Accounting Standards Board or as endorsed by a particular jurisdiction.
Asel Al Maayer member firms combine broad international experience and technical expertise in audit of IFRS-based financial statements. Our international network of valuation, internal control and information technology experts is available to assist with the conversion process where the expertise of those specialists is necessary. IFRS conversion services include:
Assisting management with the selection of IFRS accounting policy alternatives such as voluntary exemptions provided by IFRS 1, First-time Adoption of International Financial Reporting Standards, and assisting management in assessing the implications of selecting such alternatives.
- Identifying client-specific differences between GAAP and IFRS.
- Determining adjustments necessary to bring the financial reporting in line with the appropriate basis of accounting.
- Preparing financial statements and disclosures to meet requirements.
- Assisting with accounting systems and internal controls design and implementation.
- Assisting with stakeholder communications.
- Providing targeted training to accounting personnel.