IFRS/IPSAS Consulting, Conversion & Training

 

We have over 20 years of hands-on experience in dealing with International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS).

We have successfully assisted clients in implenting the provisions of the most challenging standards.

Past assignments include, but are not limited to:

• IFRS Conversion: Assisting entities in their conversions from national GAAP to IFRS.
• Implementation, in a major financial institution, of the requirements of IFRS 7 Financial Instruments: Disclosures:. This included guiding the client as to the source and format of the information and drafting the requisite notes to the financial statements.
• Implementation in several significant entities, of the requirements of IAS 12 Income Taxes including complex situations involving tax loss carryforwards and loss-making situations. This included the preparation of journal entries and notes to the financial statements.
• Implementation in several significant entities of the requirements of IAS 19 Employee Benefits. This included the preparation of journal entries and notes to the financial statements.
• Implementation, in several significant entities with substantial financial assets and financial liabilities, of the requirements of IAS 32/39 Financial Instruments: Presentation, Recognition and Measurement including issues pertaining to Hedge Accounting. This included the preparation of hedge documentation, journal entries and notes to the financial statements.
• Performing, in a significant entity with substantial property, plant & equipment, an impairment test consistent with the requirements of IAS 36 Impairment. This included the preparation of journal entries.

In addition to the provision of significant IFRS training, we have also assisted clients in implementing the requirements of the following standards:

• IFRS 3 Business Combinations
• IFRS 4 Insurance Contracts
• IAS 1 Presentation of Financial Statements
• IAS 7 Cash Flow Statements
• IAS 8 Accounting Policies, Changes in Accounting Estimates, and Errors
• IAS 10 Events After the Balance Sheet Date
• IAS 16 Property, Plant and Equipment
• IAS 17 Leases
• IAS 18 Revenue
• IAS 21 The Effects of Changes in Foreign Exchange Rates
• IAS 27 Consolidated and Separate Financial Statements
• IAS 31 Interests in Joint Ventures
• IAS 37 Provisions, Contingent Liabilities and Contingent Assets
• IAS 40 Investment Property