International Financial Reporting Standards

New international accounting and financial reporting standards could affect the way your business reports. Are you prepared?

Many countries have already adopted or are in the process of adopting International Financial Reporting Standards (IFRS). More and more U.S. subsidiaries of foreign companies are converting to IFRS to align their financial reports with those of their parent company.

Baker Tilly is IFRS-ready and, as we've done for other clients, we can help you successfully transition from U.S. GAAP. Our international professionals work closely with you to examine all the ramifications IFRS can have on your financial reports, from your vendor contracts to your employee benefit plans to your incentive compensation.

Whether you'd like a better understanding of the current status of international convergence or require assistance with the IFRS adoption process, we offer a wealth of experience and expertise. Our services include:

• Cross-border financial reporting assistance
• Assessment of the impact IFRS will have on individual aspects of your business
• IFRS implementation plan
• IFRS training and technical support

Baker Tilly offers a range of IFRS training courses to CPAs and other financial professionals. Our instructors have taught more than 40 courses and trained more than 500 participants on how IFRS compares with U.S. GAAP, how to apply international accounting standards, and how to plan for IFRS adoption. We can help you assess and fulfill your IFRS training requirements.

It's clear that a global economy and business environment is leading to commercially transparent borders and a steady convergence of the world’s accounting standards. Contact us to learn more and discover how we can help your business get ahead of the curve.