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IFRS and AIM Companies

 

With the deadline now in sharp focus for Summer interims, with the need to prepare 2006 comparatives, the ground work for IFRS preparation should be well underway.

IFRS is a great opportunity to look at your systems, processes and the very structure of the business in order to make it work better. However if you know you are behind with preparation, you will be in survival, not big picture mode.

A quick glance at the status check below should help you establish just how ready you are.

At KPMG we’ve worked on conversions for a wide range of large quoted companies, with operations around the world. If you need help at this stage, our experience will ensure that we can get to grips with your particular issues at speed.


IFRS Status Check

Do you know what information you will need for IFRS?
What are the differences between your existing accounts and the IFRS numbers?
Can your system cope with producing those new numbers?
Will your front-line people be able to supply them?
Have you talked to departments beyond Finance to provide you with the information you need?
What are the mechanics of producing and embedding the new numbers?
How will you present the IFRS information and put it into an appropriate context?
Can you cope with two GAAPs if you have both group-level and subsidiary accounts to produce?
Do you know where you’re going to get support for IFRS conversion?
Have you spoken to your Audit Committee yet?

KPMG’s IFRS Forum
KPMG’s next IFRS Forum, for Financial Directors and Financial Controllers, will take place at the Stationers Hall, London in July. The forum will cover IFRS acquisition accounting. For further information please contact Yusra Saleem on 020 7311 1000.

KPMG’s IFRS seminars
KPMG’s Audit Committee Institute is also holding two seminars for non-executives of AIM companies who are not familiar with International Financial Reporting Standards (IFRS). They are being held in our Salisbury Square offices on Wednesday 20th June in the morning and Tuesday 17th July in the afternoon. Further details are available from Jennifer Davis.

 

For further information about our services, or if you would like one of our professionals to contact you, please Contact Us.

 

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