International Standards (IFRS/IAS)

BDO has ample experience both in implementations of the International Financial Reporting Standards/International Accounting Standards, and in the preparation of financial statements based on those standards.

Scope of works offered by BDO in relation to IFRS/IAS implementation:

• Analysis of differences between accounting principles applied so far and those resulting from IFRS/IAS;
• Identification of the scope and areas of valuation and determination of valuation procedures;
• Indication of required changes (additional measures) relating to the manner of both keeping the books of account and preparation of financial statements following analysis of such differences;
• Development of procedures for conversion of financial statements and the principles of transition to IFRS/IAS and presentation of the so-called opening balance;
• Regular supervision of the IFRS/IAS implementation process;
• Assessment and recommendations as to computer software used in terms of its possible use within the keeping of books pursuant to IFRS/IAS;
• Development and supervision of the implementation of such elements as: accounting policy based on IFRS/IAS, statement templates;
• Procedures of consolidation of financial statements (including the changes in standards after 1 January 2014), spreadsheet templates, templates of consolidation packages permitting consolidation compliant with IFRS/IAS;
• Participation in periodical meetings with persons responsible for IFRS/IAS implementation;
• Training of persons involved in IFRS/IAS implementation.