TFRS Transition Advisory for SMEs

The transition to financial reporting standards changes the way a company presents its financial position; it is a technically demanding process that affects operations. We run this process with you from start to finish.

For businesses aiming to raise investment, expand abroad or pursue mergers and acquisitions, financial statements prepared in line with the standards are the first document that gives the other party confidence.

Scope

Gap analysis: comparing current accounting practices with the standard
Phased transition plan
Preparation of an opening balance sheet in line with the standard
Training of the finance team
Advisory during and after the transition
Coordination with the independent auditor

Which standard applies depends on whether the business is subject to independent audit and on its size.