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IFRS Adoption

While implementation of high-quality financial reporting standards is challenging, when planned and managed properly with assistance from Kennedy & Smith, the conversion can bring about substantial improvements in the performance of the finance function, streamline the statutory financial reporting process globally, enhance controls, and reduce costs.

IFRS adoption affords (a) standardized and improved accounting and financial reporting policies, (b) heightened efficiency in the use and availability of resources, (c) enhanced controls, (d) Improved cash management and (e) compliance with legal and SARAS requirements.

Kennedy 7 Smith professionals have a significant track record of working with companies to achieve global consistency in their financial reporting policies and practices and to seize the opportunities IFRS offers.

We enhance clients to plan and execute complex and challenging IFRS first time implementation providing assistance with all facets of the implementation process:

  • Evaluate the potential impacts of IFRS;

  • Assess readiness for IFRS conversions;

  • Prepare a detailed implementation plan;

  • Implement an IFRS conversion and training.