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Complying With International Financial Reporting Standards (IFRS): Getting Your Systems Ready to Meet Financial Consolidation and Reporting Requirements

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Executive Summary

Given the length of time it takes to change an organization's people, process and technologies, and to adopt governance practices globally, now is the time to assess and plan for the impacts of an IFRS transition on organization. Those companies that act now to get the jump on IFRS requirements - putting in place an effective methodology supported by people, processes and tools to help them understand the transition impact on their organization - will be among the first to benefit from the adoption of IFRS. Early action will allow companies to control costs, understand and manage the challenging scope of implementation, and allow for a smooth transition plan.

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