• Legal
• Privacy
• Sitemap
• Disclaimer

Many organizations hesitate to begin converting to International Financial Reporting Standards (IFRS) because of the perceived costs. Starting the process early and maximizing the use of internal resources are two obvious strategies for a lower-cost conversion.

This third volume in Deloitte’s series on IFRS conversion offers suggestions on how companies can reduce the costs of conversion by leveraging internal accounting resources, using external resources strategically, and establishing an IFRS-capable financial reporting function for the long term.

The document explores seven areas where companies can keep costs down. These include setting realistic deadlines, zeroing in on the most important changes, and taking advantage of publicly available tools and templates. Ultimately, the optimal mix of resources will depend on the circumstances of an individual company, the complexity of the issues, the capabilities of various parties, and the time and money available to execute the conversion plan.

 Download volume III:   The road to a cost-effective conversion. Maximizing the return on your IFRS investment 

 Download volume II: Beyond compliance: Strategic choices on the conversion to IFRS

 Download volume I: The conversion of Canadian GAAP to IFRS