INTERNATIONAL FINANCIAL REPORTING STANDARDS WITH EMPHASIS ON US GAAP
Are you seeking independent accountants who work proactively with your team to ensure efficient and timely reporting?
More than 100 countries have adopted International Financial Reporting Standards (IFRS), either as issued by the International Accounting Standards Board or as endorsed by a particular jurisdiction. SEC rule-making suggests that U.S. capital markets will likely have to make the transition to IFRS within the next few years.
With over 20 years of successful GAAP conversions across Europe, Asia and the US, KNAV P.A. has developed and honed a leading practice methodology, which can serve as a foundation for your company’s approach to your own conversion process.
KNAV P.A. has an established US GAAP and IFRS team; always current and updated with the latest guidance from the SEC and other regulatory agencies. We keep our clients fully informed on an 'as needed' basis - communicating information when received. Companies are and will be affected by IFRS at different times and to different degrees, driven by factors like size, industry, geography, M&A activity, and global expansion.
We have the right tools and we have been forerunners when it comes to conversions of the financial statements from local GAAP to US GAAP and IFRS.
Our conversion methodology and assistance is time-tested and successful.
- We assess the impact and determine the requisite strategy. This step involves mapping of the significant accounting policies of the new GAAP, comparing it to existing GAAP and identifying deviations from existing GAAP;
- We establish clear objectives with your organization at the planning stage;
- We train your company's executives;
- We take an all-inclusive approach that evaluates the impact on the business, including accounting policies, financial reporting, human resources, tax and other business policies, processes, systems and procedures, investor and overall stakeholder management and effective communication;
- We lay focus on embedding new standards, so your organization is fully prepared in the new environment; &
- We monitor your progress on an on-going basis.