The SEC is considering measures that could lead to retiring US GAAP and adopting International Financial Reporting Standards (IFRS) in the US. This would be an important change that deserves your attention.
Conversion to IFRS is much more than a technical accounting issue. IFRS may significantly affect any number of a company’s day-to-day operations and may even impact the reported profitability of the business itself. To help you understand the impact of IFRS conversion, we have prepared a series of explanatory materials, ranging from a signature
10Minutes overview of the issue to an in-depth whitepaper,
IFRS: The right step for US business.
PwC has a proven track record in helping companies successfully complete the transition to IFRS. With our vast worldwide experience in all major industry sectors, we propose practical solutions to address challenges that companies face during IFRS conversions. Our specialists bring technical accounting, training, communications and change management experience to the project—reflecting the complexity of the task at hand. And while many of the issues are common across all businesses, some have a greater impact on certain sectors so we'll ensure our industry specialists are involved.
PwC developed a transition IFRS methodology which provides a complete framework for an efficient and effective conversion, and has been applied to over 1300 conversion projects. This methodology, as well as getting the numbers right and guiding companies through operational problems, focuses on effective knowledge transfer to ensure lasting benefits.
