Whether you are fully converting to IFRS, or just starting to assess the impact to your existing IFRS or local GAAP reporting, KPMG's Accounting Advisory Services offers clients a well-established and flexible approach. Our conversion methodology groups all activities into four manageable phases.
The initial Assess phase is of great importance; identifying accounting and reporting differences and assessing the IT-systems, process and business impacts. In the Design phase, accounting policies are defined, blueprints for IT-system changes created and training modules are prepared. During the Implement phase, all designed changes should be put into operation and rolled-out. Finally, the Sustain phase ensures that the required changes continue to work effectively in a "business as usual" environment.
KPMG can help you understand how the changes affect your financial statements and will provide advice on making the often complex accounting policy decisions. This includes managing the messages to market on the potential impacts on the bottom line.
Our assistance is scalable and modular – You can engage us to assist throughout the entire project cycle or purely to provide ad hoc technical accounting support.
KPMG understands the wider implication of changes to accounting standards and how it can be a catalyst for Finance Transformation and Business Change. Our professionals are experienced in identifying and advising on the implementation of these additional benefits to maintain the momentum beyond simple compliance.
