Since 2005, capital-market-oriented companies in the EU have been obliged to create consolidated financial statements in line with IFRS. This poses a major challenge for businesses as converting to IFRS does not simply mean changing the numerical values; instead this means an in-depth conversion process in the company accounting system.
But not only capital-market-oriented companies seek to create their consolidated financial statements in line with IFRS. Other potential reasons could be:
- Looking to go public
- Issuing outside capital on the stock exchange
- Balance sheet addressees require an IFRS statement (e.g. investors and banks)
In addition to numerous organisational requirements, including staff training and changing processes and systems, the effect on aspects of the financial statements need to be monitored in clarifying questions that relate to accounting. In particular, exercising balance sheet options often defines the path in terms of content design of an enterprise’s capital market publications.
We support you with the necessary expertise, and accompany you on your path to conversion.