International Financial Reporting Standards
At HKG, LLP, we provide comprehensive and supported solutions for the International Finance Reporting Standards (IFRS) treatment and disclosures of your business transactions.
The increasing interconnectedness of the global economy and capital markets has accelerated the push for a single set of high quality global accounting standards. International Financial Reporting Standards (IFRS) are either presently used as the primary accounting framework or are in the process of being adopted in more than 100 countries throughout the world, including nearly all significant capital markets outside of the United States.
Conversion from U.S. GAAP to IFRS is not just an accounting issue, but can result in significant changes throughout the organization. In addition to the changes to financial reporting, a switch to IFRS accounting will likely impact areas such as information systems, vendor contracts, tax reporting, and incentive compensation arrangements and benefit plans. Appropriate implementation planning is critical to the successful adoption of IFRS.
Our team of global accounting experts provides guidance and account management for all issues relating to IFRS to ensure your financial statements are accurate and compliant.