IFRS reporting

International Financial Reporting Standards (IFRS) became a requirement for all AIM listed companies for accounting periods commencing on or after 1 January 2007.

The complexities of converting to IFRS pose a considerable drain on time and resources for any financial department, requiring potentially hundreds of hours of work to deal effectively with all matters arising. We're here to help free your time so you can concentrate on what you do best.
 
Ethical rules governing auditors allow them to offer clients education and advice on IFRS. However, Baker Tilly can manage the complete conversion process for its non-audit clients which will ensure that you have the resource you need, for the period that you need it.
 
We offer a four-stage process for clients requiring IFRS conversion. This includes:

• preliminary fact assessment
• detailed planning
• implementation
• post-implementation review.

Our expert advisors can introduce and explain the key points in a workshop lasting just a few hours.
 
Whether it be describing the differences in reconciliations of published accounts or providing a clear audit trail for boards and auditors, Baker Tilly's conversion tools and proven methodology can ensure a smooth and painless transition to IFRS.

The Future of UK GAAP
Find out more about the future of UK GAAP and whether the FRSME is for you. Read our update

IFRS 3 business combinations (revised)
The International Accounting Standards Board (IASB) released a revised standard on business combinations in January 2008 which is effective for annual reporting periods beginning on or after 1 July 2009. Read our update