In this era of modernization, where the business world is fully aware of global accounting standards, many companies are dealing with the need to change from financial reporting systems to International Financial Reporting Standards (IFRS). So, we here at AH Accountants, shall assist you to resolve this issue with the help of our specialists who are trained to effectively deal and implement the complete conversion process. Thus, insuring that you have the required resources as well.
There are numerous advantages of achieving convergence with IFRS such as; it is beneficial for the economy as it helps to increase the growth of international business, it helps to encourage international investors to invest leading to more foreign capital flows to the country, as well as financial statements are prepared using accounting standards to help your investors better understand investment opportunities. We offer a four-stage process for our clients who want to comply with the new reporting system which is “IFRS”:
• Preliminary fact assessment
• Detailed planning
• Post-implementation review