Accounting Advisory Services- IFRS Implementation








    International Financial Reporting Standards (IFRS) refers to a globally-accepted set of accounting and financial reporting guidelines for preparing and presenting financial statements. At MBG, we support companies in insuring the financial statements are as per the financial reporting guidelines. These IFRS standards are issued by the International Accounting Standards Board (IASB) to create a common accounting language that could be understood globally by investors, auditors, government regulators, and other interested stakeholders. These common rules and guidelines are applicable across the globe helping make financial statements consistent, credible and comparable.

    How MBG can help

    1. Implementation and compliance: Through every partnership, we ensure our clients get a comprehensive understanding on the IFRS implementation lifecycle, ensuring their financial reporting practices comply with international accounting norms. Our experts monitor financial statement preparation to ensure compliance with IFRS standards.
    2. Risk management: Our IFRS advisory services can help companies identify and mitigate accounting and financial reporting risks, reducing the likelihood of errors, misstatements, and regulatory non-compliance.
    3. Benefit on corporate tax: Our 360-degree IFRS compliance review provides support on corporate tax management with accurate and transparent financial reporting, alignment to tax regulations, precise estimation of tax provisions, recognition of deferred tax assets and liabilities, support in global tax planning and reduction of risks in audits and disputes.
    4. Training and education: Our experts equip the finance and accounting teams of our clients with the latest information on IFRS to ensure our clients can lead the curve by staying competitive.
    5. Transaction support: For mergers and acquisitions our in-house experts can help companies assess the accounting impact of potential deals, conduct due diligence, and structure transactions to minimize accounting complexities.

    Our Services

    1. IFRS Conversion Strategy

    An IFRS Conversion Strategy is a methodical roadmap crafted to transition an organization from existing accounting frameworks to International Financial Reporting Standards (IFRS). It entails a detailed assessment of current accounting practices, identification of disparities with IFRS guidelines, and the development of precise procedures for compliance. This strategy delineates the sequencing of tasks, allocation of resources, integration of technology, and mitigation of potential risks to ensure a seamless transition process.

    Why MBG?

    • Gap Analysis Excellence
    • Data-driven Approach
    • System Integration Expertise
    • Risk Management Solutions
    1. IFRS Technical Interpretation

    IFRS Technical Interpretation involves a thorough process of dissecting and elucidating intricate accounting standards stipulated within the International Financial Reporting Standards (IFRS). This sophisticated analysis encompasses diligent examination of nuanced transactions, intricate accounting treatments, and complex regulatory mandates. By leveraging advanced research methodologies and authoritative references, technical specialists deliver precise interpretations to facilitate accurate financial reporting and uphold strict adherence to IFRS principles and guidelines.

    Why MBG?

    • Comprehensive Research
    • Specialized Expertise
    • Collaborative Approach
    • Robust Documentation
    • Proactive Risk Management
    1. IFRS Policy Development

    IFRS Policy Development entails the rigorous formulation of accounting policies in accordance with International Financial Reporting Standards (IFRS). This involves thorough analysis of IFRS standards, consideration of their implications on financial reporting, and crafting precise policies to ensure compliance. By aligning with IFRS requirements, organizations can establish robust frameworks for consistent accounting practices, fostering transparency, accuracy, and comparability in financial reporting.

    Why MBG?

    • Customized Policy Frameworks
    • Risk-based Approach
    • Quality Assurance
    • Regulatory Compliance Focus
    1. IFRS Training and Workshops

    IFRS Training and Workshops provide comprehensive educational sessions tailored to equip finance professionals and stakeholders with in-depth knowledge and technical skills required for accurate application of International Financial Reporting Standards (IFRS). These programs delve into complex accounting principles, detailed disclosure requirements, and regulatory nuances, offering practical insights and real-world examples to enhance understanding and proficiency in IFRS compliance and financial reporting.

    Why MBG?

    • Certification and Accreditation
    • Regulatory Updates and Interpretations
    • Practical Application Focus
    • Customized Curriculum Development
    1. IFRS Audit Support

    IFRS Audit Support encompasses technical assistance and guidance provided to organizations during the audit of their financial statements prepared under International Financial Reporting Standards (IFRS). This involves preparing detailed documentation, facilitating audit procedures, and addressing complex accounting issues. Additionally, it includes responding to auditor inquiries, providing explanations of accounting treatments, and ensuring adherence to IFRS requirements and regulatory standards throughout the audit process.

    Why MBG?

    • Comprehensive Audit Preparation
    • Client-Centric Approach
    • Proactive Issue Resolution
    • Expert Communication with Auditors
    1. IFRS System Implementation

    IFRS System Implementation is a technical process involving the integration of accounting software and systems to align with International Financial Reporting Standards (IFRS). This encompasses configuring software modules, establishing chart of accounts structures, and mapping financial data to IFRS reporting requirements. Additionally, it involves implementing complex functionalities such as fair value measurement and impairment testing, ensuring accurate and compliant financial reporting under IFRS guidelines.

    Why MBG?

    • Robust System Configuration
    • Data Integration and Migration
    • Testing and Quality Assurance
    • Regulatory Compliance Validation

    Ready to revolutionize your financial reporting? Dive into the IFRS world with MBG and sculpt a masterpiece of precision and compliance. Let’s orchestrate a symphony of numbers, unlocking the true melody of your financial potential. Reach out now, and let’s compose your financial success story together.

    Explore more Risk Advisory services:

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    Enterprise Risk Management

    Business Health Check

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    We're here to help you.

    Submit your enquiries to MBG Corporate Services. We will respond as soon as possible.

    Call us at: +97431231318

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