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IFRS

International Financial Reporting Standards (IFRS) have been evolving into a global benchmark. A multitude of countries have already adopted IFRS into their local regulations and many more are in the process of converging with IFRS. The implementation of IFRS in the United States is still ongoing and its convergence with IFRS will ultimately result in significant changes in the global financial reporting world.For most companies, keeping focused on core business objectives while ensuring compliance with evolving financial reporting requirements in both local and international platforms are seen as enormous challenges. Vincyte understands these challenges.Our IFRS professionals assist companies with the modification of processes and systems that support the new accounting and reporting requirements. We provide advice and guidance on IFRS Conversion both in national and international level.

Our IFRS services to Companies and Organizations

Conversion of local GAAP accounts to IFRS

including assistance in first time adoption of IFRS (converging from local GAAP into IFRS)

Providing analysis of the convergence to IFRS

Quantification of the impact and solutions for the implementation

Assistance to the preparation of IFRS accounting manual

Review and preparation of IFRS-compliant accounting policies

pro-forma financial statements and disclosure formats, including assistance with selection of IFRS accounting policies with respect to making decisions between allowed alternative treatments

Preparation of IFRS financial statements

Assistance to clients in handling IFRS matters with auditors

Assistance in technical transactions

(i.e. business combinations, mergers and acquisitions, interpretation and implementation of new IFRS standards, IPOs, etc.)

Providing outsourced IFRS services to clients

Conducting IFRS trainings to external client staff

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