IFRS Application Service

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.

Contact us

We provide services to enterprises across Vietnam. Should you want a meeting set-up, quotation, proposal or feedback