Service Detail
IFRS Implementation.
IFRS help in Constituting a standardized way to present the company's financial statements which portray the financial performance and financial position and cash flows of a business to make them comparable internationally in a harmonized comparable manner. Implementing IFRS has an impact on all aspects of a company, including financial reporting systems, internal controls, taxes, treasury, management compensation, cash management, and legal, among others. It requires a transformation that involves employees, processes, and systems.
How Legacy Accounting can help:
The implementation of high-quality financial reporting standards is quite challenging, when planned and managed properly, the conversion can bring about substantial improvements in the performance of the finance function, streamline the statutory financial reporting process globally, enhance controls, and reduce costs, as it affords. Our team can help with:
- Evaluate the potential impacts of IFRS
- Assess readiness for IFRS conversions
- Prepare a detailed implementation plan
- Implement an IFRS conversion, providing support with training, technical research, and project management.
