The switch to IFRS (formerly IAS) affects thousands of companies across the EU and is bringing about fundamental changes to the way companies do business.
Get help with conversion.
Thousands of European listed companies are now being affected by the European Commission decree that imposed new International Financial Reporting Standards (IFRS) throughout the EU.
The measures are markedly different from the old standards and are having a far-reaching impact. They are bringing about fundamental changes in the way companies do business. Not only listed companies but more and more non listed multinationals and Belgian subsidiaries that are reporting to their parent companies under IFRS are also affected by these new financial reporting rules. But making the switch to IFRS is not a simple process, and delaying preparations for first-time adoption of IFRS is no longer an option.
Given the wide-ranging impact of IFRS conversion, many organisations may have a significant amount of work to do before issuing their first full IFRS financial statements.
PwC can help you convert to IAS/IFRS in a cost-effective and efficient way. We can guide you through the implementation process and help you manage the risks inherent in your conversion project. With a proven track-record of successful conversions, our experienced professionals will work with you to create solutions that meet your unique needs.
To begin with we can organise training sessions and workshops on accounting topics and practical implementation issues. Then we can help you adapt your management information systems (review system processes and limitations; design group reporting packages to gather information from subsidiaries; integrate your internal and external reporting requirements), of course PwC can help you to adequately communicating the impact of IAS adoption on key financial ratios to shareholders and analysts.
At PwC we constantly demonstrate our proactive approach in the identification and ultimate resolution of issues and “getting the job done”.
Partner, PwC Belgium
Tel: +32 47 761 9113