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Financial Reporting/IFRS Services

International Financial Reporting Standards (IFRS) represent the most significant shift in financial reporting and the biggest accounting change in a generation. Implementing IFRS is far from over.

The next few years are likely to be a period of significant changes in financial reporting. Among other things, the forthcoming convergence of Greek GAAP to IFRS will be a great challenge for Accounting Departments.

Conversion to IFRS is much more than a technical accounting issue. Companies that have benefited most from the transition are those that looked at this as a chance to make improvements to their systems and processes and have used it as a focus for more efficient, timely and meaningful internal and external financial information.

PwC helps companies to successfully complete the transition to IFRS.  Specifically, we offer our clients:

  • IFRS conversion for:
    • First time adopters
    • Existing preparers
  • Financial Reporting
    • Smart Close
    • Financial Consolidation
    • Timely and Accurate Reporting
    • Improvement of Month-End-Close and Inter-company Accounting Processes
    • Financial Process Effectiveness Review
    • Integration of Financial Reporting Applications
  • Preliminary Assessment / IFRS Diagnostics
  • IFRS for SMEs
  • Technical accounting advice and support tools, including
    • Identification of differences between current GAAP and IFRS
    • Determination of disclosures required
    • Financial instruments and hedging
    • Employee benefits and share compensation programs
    • Purchase price allocation related to business combinations
    • Valuation and impairment testing
    • Deferred tax
    • Management reporting
  • Training and ongoing coaching support


  • Participation in the transition process of major Groups of Companies assisting them to integrate IFRS and improve their reporting process, systems and controls.
  • Heavy involvement in the reporting process of major shipping companies that helped us obtain a deep knowledge of the shipping industry.

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