IFRS Consulting

International Financial Reporting Standards (IFRSs) are increasingly being recognized as Global Reporting Standards for financial statements. IFRSs includes IASs (until they are replaced by any IFRS) and interpretations originated by the IFRIC or its predecessor, the former Standing Interpretations Committee (SIC). As global capital markets become increasingly integrated, many countries are moving to IFRS. More than 100 countries such as European Union, Australia, New Zealand and Russia currently permit the use of IFRS in their countries. ICAI / MCA has also expressed their view that IFRSs should be adopted in India for the public interest entities such as listed entities, banks and insurance entities and large-sized entities from the accounting periods beginning on or after 1 April, 2011 (which means effectively from 1 April 2010 for presenting comparatives figures for previous year).

What We Do

• IFRS convergence
  • Providing assistance to client
    • in analysis of impact on convergence to IFRS
    • in compilation / quantification of impact on convergence to IFRS
    • in deciding and designing solutions for implementation
    • in staff training
    • in preparation of IFRS financial statements
• Agreed-upon Procedures

  The objective of such service is to carry out procedure of audit nature as requested by the Client and to report on factual findings. No assurance is provided while performing agreed-upon procedures and the Client must form its own conclusion from the report on factual findings.

• Compilation of financial information

  The objective of such service is to make available accounting expertise to the Client to collect financial information as opposed to audit or review. Though no assurance is provided, the Client gets the benefit of professional skills and trained man-power available with us.

Advantage RSM Astute

• Established Quality Assurance processes which meets international standards.
• Excellent knowledge base and trained personnel to facilitate analysis and efficient convergence to IFRS.
• RSM Astute Consulting Group (along with its affiliates) together has been ranked as the 5th largest accounting and consulting group in India (International Accounting Bulletin - September 2010).
• Extensive experience in advisory, taxation and accounting matters across various industries and service verticals.
• Multi-disciplinary team of professionals comprising of Chartered Accountants, MBAs, Engineers, Company Secretaries, CISA / DISA, Cost Accountants and Law graduates.
• Indian personnel strength of over 800 people having expertise in diverse fields and Nation wide presence.