Expert support for International Financial Reporting Standards (IFRS) and related matters
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 enables cross-border investment by lowering the cost of capital and reducing barriers
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. Applying them correctly will increase your company’s credibility and improve access to credit and investment opportunities.
These standards are very detailed and technical and can seem hard to navigate to the untrained eye. 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.
Major new standards for financial instruments, revenue recognition and leasing present significant challenges to preparers of financial statements. You will find the latest practical application guidance from the experts at CFGI. We can help you navigate the complexity of the standards so you can focus your time and effort on running your business.
Accounting acumen and expert advice combined with a hands-on approach
The impact of IFRS stretches beyond accounting and reporting to the key business decisions you make. Our financial acumen and advice reflect that reality, providing a mixture of technical information and expert insights.
Our IFRS accounting and conversion offerings include:
- IFRS Conversions.
- Gap analysis diagnostic (diagnostic).
- Quantification of difference identified with diagnostic.
- IFRS to current GAAP bridge.
- Financial reporting.
- Conversions from IFRS to U.S. GAAP (including Form 10 readiness).
- Objective evaluation of project processes, controls and deliverables.
- Project management leadership and support.
- Technical accounting advice and support tools relating to:
- Evaluation of significant differences between current GAAP and IFRS.
- Determine what financial and non-financial disclosures are required.
- Biological assets.
- Employee benefits and share compensation programs.
- Financial instruments and hedging.
- Lease accounting.
- Purchase price allocation related to business combinations.
- Valuation and impairment testing.
- Advice on communicating with key stakeholders.
- Advice on adapting processes, systems, data and manuals.
- Financial statement preparation and audit support.
- Training and ongoing coaching support.
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 IFRS and maintain compliance. The deep and relevant expertise of our advisors enables us to provide complex services to assist our clients with all areas of IFRS. We also have a range of specialists to assist your company in effective transition methodology, technical accounting expertise, 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 landscape and promote consistent interpretation and application of those standards.