IFRS


Today over one hundred countries have adopted International Financial Reporting Standards (“IFRS”) either as originally issued by the International Accounting Standards Board or as endorsed by a particular jurisdiction. And SEC rulemaking suggests that within the next several years the U.S. capital markets will likely have made the transition to IFRS.

Alliott Hadi Shahid member firms combine broad international experience and technical expertise in audits of IFRS-based financial statements. We can also help clients convert to/from U.S. GAAP and IFRS. Our international network of valuation, internal control, tax and information technology experts is available to assist with the conversion process where the expertise of those specialists is necessary. IFRS conversion services include:

Assisting management with the selection of IFRS accounting policy alternatives

  •  Identifying client-specific differences between U.S. GAAP and IFRS.
  •  Identifying information requirements for converting to/from U.S. GAAP and IFRS.
  •  Advice on adapting processes, data, and systems for IFRS
  •  Determining adjustments necessary to bring the financial reporting in line with the appropriate basis of accounting.
  •  Preparing financial statements and disclosures to meet requirements.
  •  Assisting with accounting systems and internal controls design and implementation.
  •  Assisting with stakeholder communications.
  •  Providing targeted training for accounting personnel.
  •  Employee benefits and share compensation programs
  •  Purchase price allocation related to business combinations
  •  Valuation and impairment testing

We can tailor our services to meet your needs. IFRS conversion services to attest clients may be limited due to independence considerations


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