Does your enterprise have IFRS conversion well in hand? If your answer is yes, most likely you have completed your 2010 transition year opening IFRS balance sheet; your comparative Q1 2010 IFRS financial statements are underway; your required systems changes are being implemented; you have a clear strategy for external communications to stakeholders; and your key business impacts are well understood and being addressed.
But, even a carefully planned journey can encounter unexpected challenges. Do keep a close eye on your key deadlines. If you encounter difficulties, always remember that KPMG can help.
In moving through the 2010 transition year, some entities are not feeling happy about their current position. If your enterprise waited too long to get started, or underestimated how much work was required, you may well want to accelerate your IFRS conversion project.
Critically examine your current progress—and if you need to move more quickly, take action now. If you need help, make arrangements to obtain it sooner rather than later. The ultimate deadline is a very real one—don’t put your enterprise or its reputation at risk.
No matter how far along you are with adoption of IFRS, KPMG can help. Our conversion methodology incorporates the disciplines you need. Our Audit, Tax, and Advisory professionals have the knowledge and resources to help you stay on track and make your IFRS adoption processes smoother.