We begin by determining which IFRS standards apply to your organization based on its size, industry, and jurisdictional requirements. This includes a gap analysis comparing your current accounting practices with IFRS requirements. Key areas like revenue recognition, lease accounting, financial instruments, and consolidation principles are reviewed for impact, ensuring no surprises during implementation.

Once the applicable standards are identified, we develop tailored accounting policies and procedures to ensure ongoing compliance. This includes preparing detailed accounting manuals, defining recognition and measurement criteria, and creating templates for disclosures. Our approach ensures that your policies align with both IFRS requirements and your operational realities.

We assist in converting your financial records to IFRS, making necessary adjustments such as reclassification of items, fair value measurements, and impairment assessments. This stage often involves revisiting historical data to restate comparatives and ensure consistency across reporting periods. Our team works closely with your finance function to streamline processes and minimize disruptions during the transition.

IFRS standards evolve frequently, with amendments, new interpretations, and emerging disclosure requirements. We provide ongoing monitoring to ensure you remain compliant with the latest changes. This includes periodic reviews, staff training, and advisory support for complex transactions like mergers, acquisitions, and cross-border financing arrangements.

• Aligns financial reporting with internationally recognized standards.
• Customized accounting policies that suit your business structure and industry.
• Minimized operational disruption during IFRS adoption.
• Transparent reporting that attracts global investors.
• Regular monitoring to stay aligned with evolving IFRS standards.
• Compliance that supports multi-jurisdictional operations and foreign subsidiaries.

We don’t believe in one-size-fits-all auditing. At Pawan Lohia & Associates, every Risk-Based Internal Audit begins with an in-depth understanding of your business model, industry dynamics, and regulatory exposure. Our team collaborates closely with your internal stakeholders to prioritize risk areas, define scope, and execute detailed audits with a strategic lens.