GAAP / IFRS conversions

2 minutes on GAAP Conversion with Geoff Leverton

Moving from one accounting framework to another is a big step. There’s a lot to consider for a successful conversion and planning well in advance is key to a successful transition.

From identification of key transition differences and development of accounting policies, to preparing your first post-transition financial statements — our specialists can help. Our team will bring deep technical accounting expertise, training, communications and change management expertise to your project — reflecting the complexity of the task at hand. And while a lot of the issues are common across all businesses, some have specific impacts on certain industries or types of business, which is why we ensure the involvement of our industry specialists. Our team includes technical accounting, treasury, tax, human resources, M&A valuations and project management specialists to scope out and assist with your company’s conversion to IFRS or other reporting framework.

Our team can provide:

• Project management support and set up
• Technical accounting advice
• Development of learning and change strategies
• Evaluation of processes, data requirements, controls and systems
• Assessment of taxation including the tax implications of IFRS adjustments and options
• Assessment of impact on key performance indicators and remuneration schemes
• Maximise business opportunities including streamlining of interdependent projects

Visit our IFRS Developments page for up-to-date information on when standards will take effect.