IFRS Conversion

Businesses that report into an overseas group, seek an international listing, or take on foreign investors are often required to prepare financial statements under IFRS — the global reporting framework. Converting to IFRS changes how many items are recognised, measured, and disclosed.

The firm manages the conversion — the gap assessment, the policies, the restatement, and the IFRS financial statements. (For statutory Indian reporting, the converged standard is Ind AS — see Ind AS implementation.)

IFRS conversion covers, including:

• A gap assessment between current GAAP and IFRS
• IFRS accounting policies and first-time-adoption (IFRS 1) choices
• Restatement of the balance sheet and comparatives
• Key areas — revenue, financial instruments, leases, consolidation
• IFRS financial statements and disclosures, and group-pack alignment

1. 01

   Assess the gaps

   Compare the current basis with IFRS and scope the impact.

2. 02

   Set policies

   Choose IFRS policies and the IFRS 1 elections.

3. 03

   Restate

   Prepare the opening balance sheet, adjustments, and comparatives.

4. 04

   Report

   Produce the IFRS statements and align to the group pack.

PBT manages your IFRS conversion cleanly.

• A thorough gap assessment
• Sound policy and adoption choices
• Careful restatement and disclosure
• Alignment with group reporting
• Scope, deliverables, and fees agreed in writing up front

• What's the difference between IFRS and Ind AS?

  Ind AS is India's IFRS-converged standard for statutory reporting; IFRS is the global standard often needed for overseas group reporting or listings. We handle both.

• Why would I need IFRS statements?

  Usually for reporting into a foreign parent, an international listing, or foreign investors who require IFRS.

• How long does it take?

  A conversion is typically a multi-week to multi-month project depending on size and complexity.