IFRS Conversion

International Financial Reporting Standards (IFRS) is gaining momentum throughout the world as a single, consistent accounting framework and is positioned to become the predominant GAAP in the near future. More than 100 countries have moved to, or base their local standards on IFRS.

Indian Accounting Standards have not yet kept pace with changes in IFRS and there are significant differences between IFRS and I-GAAP. Recognizing the significance of having full convergence with IFRS, the ICAI has decided to fully converge with IFRS issued by IASB. The Ministry of Corporate Affairs has also announced its commitment to convergence to IFRS.

SuperCFO provides following IFRS related services:

Full Conversion

We would take your existing I-GAAP financials and provide you with IFRS Financial Statement.

Customised IFRS Disclosure Checklist

For good IFRS reporting, you need a comprehensive checklist. We would gather basic important information from you, do a quick evaluation and provide you with suggested disclosure checklist that could act as a comprehensive tool in ensuring complete and concise accounting disclosures. If you have a good knowledgeable team OR if you are an audit firm and can handle entire IFRS conversion on your own, you should definitely have this checklist to ensure completeness.