Starting in 2008, all listed companies in Israel have to report under IFRS. The good news: investors are now able to understand and compare financial statements from companies around the world. Result: lower cost capital more efficiently allocated. The not-so-good news: getting through the IFRS conversion process is a real challenge. 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 or even impact the reported profitability of the business itself.
PwC Israel has a proven track record in helping companies successfully complete the transition to new accounting standards. Reflecting the complexity of the task at hand, we have a range of specialists to assist your company's conversion to IFRS, including: technical accounting, treasury, tax, and M&A valuations specialists (for audit clients subject to the provisions of the US Sarbanes-Oxley Act, non-audit services, including tax services can be provided by the auditor as long as the services have been pre-approved by the audit committee).