International Financial Reporting Standards (IFRS) are an international system of standards and principles generally accepted and widely used in most countries of Europe and in the world as a basis for the preparation and presentation of financial statements.
A service of transformation of financial statements in IFRS format is the most popular among our clients.
The transformation of financial statements is carried out if the system of parallel accounting under IFRS is missing an enterprise, and it is relevant in the following conditions:
• Attracting foreign capital, and as a consequence, the need to provide investors (potential or current) financial statements, comprehensible both from the point of view of its construction principles, and its shape
• Lending business (bank, non-resident), and as a consequence, the need to present the real performance of the company or the group
• The need to prepare records for the parent company-non-resident
• Placement of the company’s securities on international exchanges
• Preparation of statements of public companies, banks, insurance companies as well as companies engaged in certain activities (list of activities is regulated by the Cabinet of Ministers) in accordance with the requirements of Article 12-1 of the Law of Ukraine “On Accounting and Financial Reporting in Ukraine”
We provide services for the transformation of financial statements by bringing them into full conformity with the requirements of International Financial Reporting Standards.
We also provide the following services:
• Audit of financial statements prepared in accordance with IFRS
• Preparation of the consolidated financial statements of the Group
• Development of accounting policies in accordance with IFRS
• Advising on the application of IFRS
• Support of the process of group (holding) reorganization for subsequent access to international capital markets