Ifrs Compliance Solutions - Comprehensive Implementation Strategy, Multi-function Support Across It, Tax, Treasury, Hr at Best Price in Mumbai

Ifrs Compliance Solutions - Comprehensive Implementation Strategy, Multi-function Support Across It, Tax, Treasury, Hr

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Product Specifications

Format	Digital
Version	Latest
Scope	Global
Compliance	IASB
Industry	Finance
Usage	Financial reporting, compliance, and auditing.
Type	Standards
Features	Global Standards, Improved Reporting, Reduced Costs, Better Access, Transparency, Compliance

Product Overview

Key Features

IFRS

In 2002, the European Union (EU) chose international Financial Reporting Standards (IFRS) as the common financial reporting language for listed Companies from 2005. This move to International Financial Reporting Standards (IFRS) can be marked as the most important initiative in the financial reporting world.

IFRS implementation or/and conversion is not just a bare technical accounting exercise - it is a significant project which requires a concerted multi-function support (including IT, tax, treasury and human resources). We have the globally experienced resources and the right knowledge to make your company IFRS compliant at a cost effective price and within definite timelines.

AA provides services to support you get IFRS implemented and beyond. Our IFRS services include

Audit of IFRS Financial Statements
IFRS diagnostic and conversion support
Financial information systems readiness for IFRS
Valuation services
Corporate treasury services
Tax planning and reporting under IFRS
Implementation & Conversion
Corporate Training
Consolidation & Compilation

The use of international financial reporting standards (IFRS) as a universal financial reporting language is gaining momentum across the globe. Over a 100 countries in the European Union, Africa, West Asia and Asia-Pacific regions either require or permit the use of IFRS. Even in the US there is an ongoing debate regarding the adoption of IFRS replacing US GAAP.

Benefits of IFRS

There are likely to be several benefits to corporate

Improvement in comparability of financial information and financial performance with global peers and industry standards. This will result in more transparent financial reporting of a companys activities which will benefit investors, customers and other key stakeholders.
IFRS result in better quality of financial reporting due to consistent application of accounting principles and improvement in reliability of financial statements.
Better access to and reduction in the cost of capital raised from global capital markets.

Transition to IFRS

Recently there has been much discussion of International Financial Reporting Standards and increasing acceptance of the concept.
Adoption of IFRS has potential advantages for the capital markets, and it can help Companies simplify and standardize their reporting. But it does involve some significant changes, and the transition needs to be managed carefully in order to mitigate fraud and litigation risks.

First time adoption of IFRS

Adopting International Financial Reporting Standards (IFRS) presents challenges that many people underestimate.
At Control-A Consulting we believe ultimate conversion will follow convergence. Preparedness is essential. Companies should take a few key steps now.If you take only one action after reading this document, we suggest it be this: Develop an IFRS implementation roadmap.

Current Position and next footstep
On February 24, 2010, the SEC held an open meeting and unanimously agreed to publish a statement of continued support for a single set of high quality global accounting standards and acknowledged that IFRS is best positioned to serve in that role.

Awareness and preparedness are essential. Given the time line, companies should be thoughtful and measured in their approach as they consider this complex challenge. This challenge can be addressed through simple, cost effective and efficient training sessions/modules. Control-A Consulting is happy to discuss your specific training requirements, and will work with you to help identify your optimal training solution.