International Financial Reporting Standards (IFRS) became mandatory in the European Union for the year ended December 31, 2005. Today, almost 100 countries have adopted or are in the process of adopting IFRS as their accounting standards, including Australia, South Africa, China, USA and Canada. After years of discussions and debates, it is clear that International Financial Reporting Standards are becoming the accounting standard for the world.
Mazars, an international adviser with extensive experience of IFRS conversion
Mazars has an established IFRS taskforce, which has worked with large, multinational companies on full IFRS conversion as well as assisting smaller companies in assessing the impact of IFRS and dealing with conversion issues.
How Mazars can help
As advisor, we assist with:
- Early diagnostic of major differences
- Initial IFRS Impact Assessment : Highlights the key areas of your business that will be affected by IFRS and helps you decide upon your organisation’s conversion plans. This can extend to the preparation of proforma financial statements for your company under IFRS.
- Project support : Mazars project management system gives you a clear understanding of the project’s objective and of the work that needs to be done, enabling you to exert control over the project and transfer knowledge throughout the business.
- Tailored training programmes : We provide training programmes tailored to your specific needs, varying from a global overview of the impact of IFRS to technical half-day modules on key Standards.
- Full IFRS conversion : Mazars has the experience and technical expertise to undertake full IFRS convergence assignments.
Want to know more?
IFRS conversion - India brochure
Our IFRS Team comprises of Partners and Senior staff members specialising in IFRS and located in offices around the world in Asia Pacific, Europe, South Africa, and the USA.
IFRS Project Management Guide
Mazars Newsletter on IFRS
October has been a busy month for IASB and this has generated a good deal of news, in particular regarding the project to review IAS 39. Beyond the GAAP here presents all the important decisions made, some of which have immediate consequences for the 2009 reporting period.
Mazars' newsletter on IFRS