IFRS Technical Support
IFRS has been adopted by many jurisdictions worldwide. As the market becomes more and more global, adherence to IFRS has become a reality and responsibility. Business entities are facing challenges by changing their business structure through building a strategic alliance, joint venture arrangements, making investments, merger, and acquisitions and by building refinancing transactions. Non-routine complex transactions are an additional challenge to the business entities. IFRS technical support has become the vital need of business.
Introducing new business models and adopting new business environments needs adjustment of financial reporting strategy which is also mandatory to sustain communication with stakeholders and to get access to the global market.
Haroon Malik Accounting Services offers customized technical support services to business entities considering IFRS implementation and to companies already reporting according to IFRS.
- Assisting business entities to assess the impact of complex accounting and reporting changes resulting from changes in the business structure
- Guidance on the first-time adoption of IFRS
- Assistance on reporting to foreign parent business entity
- Assistant on complex IFRS issues
- Determination of disclosure requirements
- Management reporting implications guidance
- Impact on business due to change in the external regulations
- Effect of IFRS on the opening balances of Statement of Financial Position (Balance Sheet) of business entities
- Training under IFRS
- Preparation of accounting opinions on the request of business entities for external usage purpose