Convergence to International Financial Reporting Standards (IFRS)
Convergence ensures that an entity’s first financial statements are in accordance with IFRS, as well as its interim financial reports, relating to a part of the period covered by such financial statements and contain high-quality information that is transparent to users and comparable for all reporting periods, provides a suitable starting point for accounting
under International Financial Reporting Standards (IFRS) and can be obtained at a cost that does not exceed its benefits.
Our firm has a team of highly trained professionals, who have made many convergences to IFRS in various companies. In this way our clients can have financial information in accordance with international standards.
Our convergence service consists of:
- Identification of the accounts that will have an effect due to this convergence.
- Discussion with the client of available options for convergence at the level of financial statement items and advising them to make the best option.
- Implementation of the transition of balances from local accounting principles to IFRS.
- Detail of the adjustments to be applied to accounting for the transition period.
- Delivery of transitional financial statements under IFRS to management.