（2006）The Information Systems Impacts of IFRS.pdfVIP

The information systems impacts of IFRS IT ADVISORY The Information Systems Impacts of IFRS Complexity behind the numbers ADVISORY 1 The information systems impacts of IFRS Contents Executive summary 2 Introduction 4 Background 6 Understanding the changes 7 Designing the changes 12 Implementing the changes 26 Where to from here? 28 Glossary of terms 31 Contacts 32 2 The information systems impacts of IFRS Executive summary IFRS – today’s challenge Conversion to the International Financial Reporting Standards (IFRS) poses a significant challenge to organizations globally. It is a substantial business change project that will be undertaken by large sectors of the global business community and will make a significant contribution to achieving transparency and increased understanding of global financial reporting. IFRS conversion projects are often viewed as finance specific project