IFRS: Business Solutions

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The EU has already announced that all listed and regulated companies should convert to IFRS by 2005 . According to Polish regulations, all listed companies must prepare a reconciliation from Polish GAAP to IFRS by 2004. These requirements will pose a significant challenge to many companies in Poland and in Europe. Concerns over its impact on Merger and Acquisition policies, investment analysts' understanding of results, coupled with the internal issues of staff training and systems changes should encourage companies to begin to plan their conversion process and fully understand the issues early.

We can provide technical advice on:
 

  • The interpretation of IFRS,
  • The differences between Polish Accounting Regulations and IFRS,
  • The relationship between IFRS and Polish legal requirements relating to companies' accounting records and statutory accounts,
  • The practical application of IFRS to the company's accounting policies,
  • The preparation of financial statements.

In addition to project management and technical support, PwC can also provide the following services:
  • Advice on the impact on systems and controls
  • Client training
  • Assistance with managing the investor market on the transition to IFRS
  • Support on tax and pensions accounting utilising our specialists in these areas
  • Accounting advice in relation to industry and specialist issues, such as financial instruments
  • Assistance with valuations of financial investments and property and, in the context of an acquisition, with intangible assets.
  • Incorporation of the ValueReporting framework within the Company's financial reporting coinciding with the change to IFRS.

PwC has considerable expertise in helping clients address these issues. Our clients include a broad range of companies in many regions and industries, from developed markets to emerging economies, from energy providers to major international banks.

We have helped to provide solutions to their unique business problems through the successful adoption of IFRS.

You do not need to re-invent the wheel – PwC brings you the benefit of extensive experience and the knowledge of our global network of IFRS specialists. Please contact us.