Accounting and reporting
- You need to understand how a transition to IFRS will affect your share price.
- You are unclear how to account for your subsidiaries under the new accounting regime.
- Your management needs help communicating the change to the market.
- Your data collection is inadequate. A reporting package will be required to capture the IFRS information.
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People
- Your finance staff need training to understand the new accounting framework.
- You understand that applying IFRS is more than a technical issue. Your finance, HR, treasury, tax, and IT staff all need training.
- You lack internal resource. There may be competing demands on resources at all levels of your organisation.
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Systems and controls
- You need to understand how a transition to IFRS will affect your share price.
- You are unsure what internal systems changes will be necessary.
- Your existing IT systems may not be able to deal with the new IFRS data requirements. Systems upgrades are required.
- You have identified a need for new controls as additional measures are required to comply with reporting and disclosure requirements.
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