Transformation of financial reporting under IFRS

Key to transparent and comparable financial reporting for business. Preparing reporting in accordance with International Financial Reporting Standards allows you to improve the quality of management decisions and attract foreign investors.

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Transformation of financial reporting under IFRS | EBS

Transparency and trust from investors and partners

Transformation of financial reporting under IFRS | EBS

Preparing to raise capital, loans or go public (IPO)

Transformation of financial reporting under IFRS | EBS

Compliance with international standards

EFS Financial Statement Transformation Services

EBS provides full support for the transformation of financial statements in accordance with IFRS requirements, including:

  • Analysis of current financial statements and identification of differences from IFRS;
  • Development of IFRS accounting policies;
  • Formation of transformation tables, adjustments and explanations;
  • Preparation of final IFRS statements in a format acceptable for audit;
  • Consultation on tax consequences;
  • Preparation for and support during audits.

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Who is obliged to switch to IFRS in Ukraine?

According to the Law of Ukraine “On Accounting”, the following are obliged to apply IFRS:

  • Large enterprises that meet two of the 3 criteria:
    • net income over 40 million euros;
    • assets over 20 million euros;
    • over 250 employees;
  • Public joint-stock companies (PJSCs);
  • Banks, insurance companies, pension funds and other financial institutions;
  • Enterprises admitted to stock exchange trading;
  • Companies operating in the extractive industry.

The transition to IFRS takes place from the beginning of the financial year following the year in which the company first fell under the specified criteria.

Planning to transition to IFRS or preparing for an international audit?

Leave a request and we will contact you for a free consultation.
EBS is your reliable partner in the field of management consulting and financial transformation.

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Why should you entrust your reporting transformation to EBS?

  • 26 years of experience in financial consulting and IFRS;
  • Over 200 successful transformation cases for Ukrainian and international companies;
  • Membership in Integra International, ACCA, European Business Association;
  • Industry expertise: retail, energy, industry, IT and finance.

Frequently Asked Questions (FAQ)

What is IFRS reporting transformation?

IFRS financial reporting transformation is the process of bringing a company’s financial reporting prepared under national accounting standards into line with the requirements of International Financial Reporting Standards (IFRS). It includes analyzing existing data, adjusting accounting indicators, applying valuation methods adopted in IFRS, and preparing explanations and reporting forms necessary for reporting in accordance with international requirements.

Who audits IFRS reporting?

IFRS reporting is audited by an independent auditor who has the experience and authority to conduct international audits in accordance with ISA.

How long does it take to transform reporting?

The duration depends on the volume of reporting, the number of companies in the group, and the quality of the source data. On average, it takes from 1 to 3 months.

Benefits of working with EBS

01

Expertise

Reporting according to international standards

02

Risks

Minimizing reporting errors

03

Speed

Prompt response to client requests

04

Quality

Optimization and improvement of reporting quality

05

Modern approaches

High-level hardware and software

06

Volumes

Large volumes of information processing by our specialists

07

Current

Continuous monitoring of legislative changes

08

Experience

Experience gained at leading companies

Transformation of financial reporting under IFRS | EBS

We will be happy to hold a meeting with you and an initial consultation on the development of operational and financial policies

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    Transformation of financial reporting under IFRS | EBS


    Transformation of financial reporting under IFRS | EBS
    Transformation of financial reporting under IFRS | EBS


    Transformation of financial reporting under IFRS | EBS
    Transformation of financial reporting under IFRS | EBS


    Transformation of financial reporting under IFRS | EBS
    Transformation of financial reporting under IFRS | EBS

    Transformation of financial reporting under IFRS | EBS
    Transformation of financial reporting under IFRS | EBS


    Transformation of financial reporting under IFRS | EBS
    Transformation of financial reporting under IFRS | EBS


    Transformation of financial reporting under IFRS | EBS