IFRS compliance and Accounting Change Services
IFRS is the common global financial reporting language. Major new standards for financial instruments, revenue recognition and leasing present significant challenges to preparers of financial statements. The volume and significance of the topics currently under deliberation have the potential to result in a period of unprecedented change, and the implementation of these accounting changes throughout an organization may require significant time and resources. Some of these changes are transformational in nature and may affect the entire organization (systems, processes, controls, record keeping, performance measurement and results, communication). You will find the latest practical application guidance from the experts at Bizz Solutions here.
Bizz Solutions’s Accounting Advisory Services practice is well positioned to help you implement new accounting standards. Bizz Solutions professionals can provide timely advice on the impacts of accounting changes, assist you in the development of an implementation roadmap and conduct technical training sessions to equip your team with the knowledge to navigate new standards successfully.
Our teams understand that the pace of these changes is swift, the volume is significant, and it can be hard to keep up with all the requirements and potential impacts. We work with you to understand the potential implications of the anticipated accounting changes and the potential business decisions that may be necessary. Our cross-functional teams can provide insight into the impact on general control environment, systems and processes, and business integration.