With this service, we will support clients to apply IFRS in the most efficient way in terms of time, effort and costs.
- Developing a process to convert data from Vietnamese Accounting Standards to International Accounting Standards (IFRS) in compliance with IFRS 1 – First-time Adoption of International Financial Reporting Standards
- Building a new account system and financial statement preparation process in accordance with IFRS.
- Reorganizing the process of processing and gathering data from all relevant departments, as well as clearly define the relevant responsibilities of those departments in coordinating with the accounting department.
- Reorganizing the personnel from Accounting-Finance to ensure that the job positions are suitable for the new requirements.
- Upgrading Enterprise resource planning (ERP) software to meet higher requirements of IFRS.
- Upgrading the database for the measurement and valuation of items in the financial statements according to the guidance of IFRS.
- Training the IFRS for corporate personnel.
- Adjusting the terms of economic contracts with business partners to match the relevant requirements of IFRS.
- Anticipating negative effects (if any) on financial ratios when converted to IFRS so that appropriate response plans can soon be done.