The International Financial Reporting Standards (IFRS) are a set of global accounting standards developed by the International Accounting Standards Board for the preparation of public company financial statements. With well over 150 countries using them, these standards are quickly becoming the global accounting language. IFRS presents a common financial language that encourages and enables cross-border investment by lowering the cost of capital and reducing barriers. Using IFRS can help increase the quality, comparability, and transparency of your financial information. These standards are complex and can seem hard to navigate to the untrained eye. Applying them correctly will increase your company’s credibility and improve access to credit and investment opportunities.
How CFGI can help:
Our IFRS technical professionals proactively anticipate accounting requirements, drawing upon our deep subject matter knowledge and broad sector experience resulting from engagements across the globe. We break down very complicated situations into language that any non-accountant can understand.
CFGI helps companies to successfully complete the transition to or from IFRS and maintain compliance as well as advises on global sustainability including ESG reporting matters. The deep and relevant expertise of our advisors enables us to provide comprehensive solutions to assist our clients with all areas of IFRS and global sustainability. We also have a range of specialists to assist your company in effective transition methodology, technical accounting topics, treasury, tax, interim resources, M&A, valuations, and project management.
CFGI’s experts will strive to keep you up to date with the evolving IFRS and global sustainability landscapes and promote consistent interpretation and application of those standards. We can help you navigate through the complexity of the standards so you can focus your time and effort on running your business.
Our cross-functional solutions include:
IFRS <–> US GAAP Conversions
- Financial diligence procedures and comprehensive gap analysis diagnostic
- Identification and quantification of GAAP differences
- Bridge accounting between IFRS and US GAAP
- Preparation of full IFRS and/or US GAAP financial statements
- Similar services available for other local GAAP conversions
Financial Reporting Integration
- Evaluation of conversion project processes, controls, and deliverables
- Recommendation on adapting processes, systems, data, accounting policy alignment, and best practices
- Ongoing audit support for first-year adoption and subsequent needs
IFRS Technical Accounting Advice & Support
- Merger & acquisition, divestiture, and carve-out transactions
- Foreign private issuer and cross-border transactions including SPAC
- Global sustainability reporting including ESG
- Purchase price allocation related to business combinations
- Share-based compensation programs and other employee benefit schemes
- Revenue recognition
- Lease accounting
- Financial instruments and hedging
- Valuation and impairment assessment
- Financial and non-financial disclosures
- Tax issues
Other Critical Stand-Ready Support
- Advice on key stakeholder communications
- Conversion project management leadership and support
- Onboarding and coaching support
CFGI’s IFRS experts are very well-versed in their intricacies, translating them into language that you can understand and apply to your financial statements and global sustainability reporting requirements. CFGI can establish a cross-functional team to address your IFRS and global reporting needs with agility and efficiency. Our accounting, business, and technological acumen and advice reflect both technical expertise and a practical, hands-on approach.