IFRS Services

For first-adopters, our dedicated IFRS transition team can provide ongoing technical support to your conversion team during the restatement and preparation of IFRS financial statements. This support may include the following:

• Assistance in assessing the impact of full implementation of IFRS
• Assistance in examining different scenarios concerning timing of adopting IFRS
• Project management
• Assessment of the impact and optional exemptions available under IFRS 1 “First Time Adoption”
• Assistance on the selection of the IFRS accounting policies. This may include:

• benchmarking significant accounting policies currently used by other major companies of the same industry to identify best practice accounting policies that should be considered
• qualitative analysis of the use of alternatives permitted under IFRS


• Technical advice on the critical areas where IFRS impacts your business and restatement is required to conform with IFRS
• Assistance with the identification of areas where significant differences between your current GAAP and IFRS exists.
• Assistance on the identification of the business and geographical segments
• Technical and accounting advice regarding specific issues such as financial instruments, employee benefits, share-based payments
• Assistance to determine what financial and non-financial disclosures are required under IFRS
• Development of IFRS accounting manuals
• Assistance with the preparation of an IFRS financial statement template
• Development of group reporting documentation (template reporting pack)
• Provide support in order to address and resolve accounting issues that may arise during consolidation
• Assessing the impact on key performance indicators and debt covenants
• Define system requirements and processes and assessment of any changes required
• Assistance with communication with key stakeholders
• On-going knowledge transfer from our IFRS specialists to key members of your team throughout the duration of the project
• Assistance to determine the Company’s training needs and develop an IFRS training strategy and program
• Deliver staff training

For existing IFRS users, PricewaterhouseCoopers offers embedding sustainable reporting services to help you integrate IFRS and improve reporting processes and controls. Example of these services include:

• Data modelling: assisting in the definition of data requirements and chart of accounts to fulfil reporting needs
• Process improvements: helping enhance the control environment over financial reporting
• Training: help develop and administer training programmes and provide training where necessary
• Technical support regarding specific issues and complex transactions
• Support with changes in existing standards
• Support with the implementation of new accounting standards