With the world continuing to converge to a single set of accounting standards it has become increasingly important that those firms assisting public entities in converting to IFRS (International Financial Reporting Standards) have a structured and repeatable methodology.  Pyramus Consulting assisted Ernst & Young in developing their baseline method and approaches to perform the full cycle of converting from local GAAP (Generally Accepted Accounting Principals) to IFRS.

Workflows and frameworks were established to provide goverance and consistency in approach while engagement teams perform:

• The initial diagnostic measuring the impact of converting to IFRS
• Designing and planning for the conversion
• Developing the solution to implement recommended changes to accounting policies and other functional areas
• Performing the actual implementation/conversion
• Administering a post-implementation review

To learn more about this effort or if your firm is evaluating the conversion to IFRS, contact us at (609) 524-4373, option 2.