IFRS transformation of the accounting system of Joja
Abrau launched a project to transition from national accounting standards to International Financial Reporting Standards (IFRS). Our team provided full methodological and operational support for the transformation.
IFRS: new transparency and trust for investors
The transition to IFRS opened access to international partners and financial institutions for the company. As part of the project, accounting policies were updated, personnel were trained, and financial statements were prepared in accordance with international standards.
Project objectives
Conduct an analysis of the current financial system and identify gaps with IFRS
Ensure the methodological transformation of accounting policies
Prepare transparent financial statements recognized at the international level
Provide sustainable support for the transition and ongoing accounting
What we did:
1. Diagnosis of the current state:
Analysis of financial statements and accounting policies under national standards
Identification of discrepancies between current standards and IFRS
2. Transition and process setup:
Development of a new accounting policy in accordance with IFRS
Implementation of changes in processes and configuration of accounting systems
Training of the finance team on new standards
3. Preparation of reporting and audit:
Preparation of financial statements under IFRS
Verification of reporting by an independent auditor
Preparation of explanatory notes and disclosure of key parameters
4. Long-term support:
Advisory on ongoing accounting under IFRS
Support for internal control and compliance with new requirements
