We believe that companies should view changes in accounting standards as far more than an accounting exercise.
KPMG firms bring together the best of our existing audit, advisory and tax professionals to help clients understand and respond to the changes in accounting standards which are currently impacting:
- First time adopters, currently converting to IFRS
- Existing IFRS preparers currently considering the proposed changes to the standards
- Other preparers, not currently reporting under IFRS, but still facing significant changes in local GAAP standards, for example as a result of the convergence initiatives between the IASB and FASB
KPMG can help you understand how the changes in the standards affect your financial statements and assist you in making the complex accounting policy decisions required. But moreover, we see the implementation of new standards as more than an accounting exercise. Our multi-disciplinary approach seeks to translate the accounting impacts into tangible actions to deliver the required changes to your company’s systems, processes, people and also to the wider business.
We believe that the benefits of effectively managing the change in accounting policies can outweigh the efforts; in particular to:
- Enhance competitiveness in a global market
- Facilitate the sourcing of capital on a global scale
- Benefit from policy options and choices upon first-time adoption
- Identify and implement significant performance improvements in the finance function to streamline and simplify the accounting process
- Reduce financial reporting efforts and related costs
- Stimulate and simplify benchmarking