IFRS Accounting and Conversion
The global marketplace and related international transactions require companies to have an in depth understanding of multiple accounting frameworks. Riveron’s breadth of technical expertise enables us to identify similarities and nuanced differences between US GAAP, Local GAAP and IFRS.
Whether due to the acquisition of a new business, statutory requirements, or internal reporting, Riveron’s methodology ensures accurate IFRS accounting, successful GAAP conversions and sustainable reporting. Knowing a conversion can extend beyond technical accounting, our teams take a holistic approach by assessing people, processes and systems to identify and implement scalable solutions to meet your reporting requirements.
Our IFRS accounting and conversion offerings include:
- Gap analysis
- Quantification of difference
- IFRS/US GAAP/Local GAAP bridge
- Financial reporting
- Technical accounting
- Presentation and disclosure requirements
- System and process analysis
Riveron is not a CPA firm.
Riveron assisted company in adopting US GAAP on a consolidated basis with recent acquisitions
Over the course of 18 months, Rubicon Oilfield International, a global privately held oilfield services company, acquired five businesses. These global businesses were reporting under IFRS, Canadian GAAP and other local statutory methods. Riveron’s advisory services included the uniform adoption of US GAAP by implementing a documentation tool to identify and quantify each IFRS (or other local GAAP) difference to US GAAP. Riveron fully documented the adoption of US GAAP by the legacy and consolidated companies and provided the documentation tool and Rubicon’s technical accounting memo to the external auditors.
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