Belgium

IFRS Conversion 

IFRS conversions involve more than a straightforward implementation of another accounting standard; it may have an impact on the entire organization. KPMG’s Global Conversion Services (GCS) is a multi-disciplinary activity, using a structured approach to assist clients performing IFRS conversions by assessing, designing, implementing, and sustaining conversions from their current primary accounting standard to the future accounting standard.

Bart Walterus

Bart Walterus

Partner

+32 (0)27083880

Koen De Loose

Koen De Loose

Partner

+32 (0)27084317

The challenge

The increasing globalization of business and the subsequent desire for transparent comparable financial information for investors is driving the demand for International Financial Reporting Standards (IFRS), or any other set of primary accounting standards (such as US GAAP). The need for a company to convert to IFRSs/US GAAP may arise due to a number of other reasons: changes in home-country legislation, initial public offerings and re-financing arrangements, mergers and acquisitions, cross-border transactions or a voluntary choice.


Our methodology

KPMG teams specialize in converting one accounting basis to another and understand that it is more than an accounting exercise: it will have an on the entire organization. The accounting and disclosure gap analysis is the starting point and drives the impact assessment in other areas of the organization. Advisory Accounting Services (AAS)  professionals are skilled in handling each element of the conversion process and assists in the conversion using a common and consistently applied approach –  KPMG’s Global Conversion Services Methodology.


 

Our professionals

AAS professionals at KPMG Advisory in Belgium are experienced in advising clients on a wide range of issues, from helping to reach compliance with new on revised accounting standards to assisting in the conversion process. AAS professionals offer a special combination of know-how for IFRS conversions, which combines deep technical IFRS knowledge with multi-disciplinary capabilities, extensive experience, a tested methodology and tailored tools.


KPMG has one of the leading IFRS advisory networks worldwide and works closely with the IASB. Access to KPMG professionals means timely and pragmatic responses to complex technical questions.

KPMG's Global Conversion Services Methodology

KPMG's Global Conversion Services Methodology is designed to approach the conversion in manageable phases, based around five key areas.

 

 

IFRS Methodology 

 

Your benefits:

 

  • Not only a focus on the accounting and reporting aspects, but an integrated approach conducting a conversion that is fully embedded in all areas of the organization: accounting & reporting, systems and processes, business, people & change
  • The use of an internationally developed and tested methodology and the right tools tailored to conversion.
  • Knowledge transfer through our collaborative approach