IFRS Consulting

International Financial Reporting Standards (IFRS) are increasingly being recognised as Global Reporting Standards for financial statements. IFRS includes IAS (until they are replaced by any IFRS) and interpretations originated by the IFRIC or its predecessor, the former Standing Interpretations Committee (SIC). As global capital markets become increasingly integrated, many countries are moving to IFRS. More than 100 countries such as European Union, Australia, New Zealand and Russia currently permit the use of IFRS in their countries. ICAI / MCA has also expressed their view that IFRS should be adopted in India for the public interest entities such as listed entities, banks and insurance entities and large-sized entities from the accounting periods beginning on or after 1 April, 2011 (which means effectively from 1 April 2010 for presenting comparatives figures for previous year).

What We Do

  • IFRS convergence
    • Providing assistance to Client
      • In analysis of impact on convergence to IFRS
      • In compilation / quantification of impact on convergence to IFRS
      • In deciding and designing solutions for implementation
      • In staff training
      • In preparation of IFRS financial statements

  • Agreed-upon Procedures

    The objective of such service is to carry out procedure of audit nature as requested by the client and to report on factual findings. No assurance is provided while performing agreed-upon procedures and the client must form its own conclusion from the report on factual findings.

  • Compilation of financial information

    The objective of such service is to make available accounting expertise to the client to collect financial information as opposed to audit or review. Though no assurance is provided, the client gets the benefit of professional skills and trained man-power available with us.

© 2011 Suresh Surana & Associates. All Rights Reserved.
The site was last updated on: 24 January 2011