Much like the onset of SOX, this too will be an unavoidable shift in the way we work with our clients to prepare their financial statements, work with their tax structures and even their accounting systems. CPAs and their firms will need significant education and training in the new standards to make the shift, and they will also need to educate their clients.
BCG&Co. began this process last year and now has a committed team of experts who educate others, are obtaining certifications and providing thought leadership on IFRS conversions. As fellow CPAs we know that our first priority is serving our client's needs, even if that means bringing in outside resources. We treat each client as if we were a partner in their business. BCG&Co. often works with other CPA firms and sole practitioners to provide added capacity, expertise or for independence situations. (Read our article on the OSCPA's blog about working together).
What are the benefits of working with BCG&Co.'s IFRS team?
We have a dedicated team of experts who are committed to IFRS education and implementation for small to medium sized enterprises. Bring your clients and your the IFRS education and knowledge they need without having to spend copious amounts of time getting certified and educated. Our IFRS team can work with your firm in any of the following ways:
As an extension of your business
Working with you and your client. We can work with you and your clients as IFRS advisors to assess, advise and create a plan for convergence leaving you in control of the actual implementation. We can be available for ongoing coaching and advice on the sidelines.
Working with you and your team. If you want to keep us out of the picture you can use our IFRS experts as your behind the scenes team. We will prepare the first IFRS financial report and provide guidance for you on how to advise your client.
Working as a third party. We can operate solely as a third-party IFRS implementation team to work with your client to get them up and running on IFRS, then we exit the relationship after the implementation has been complete.
Education and Training
For your team. As certified IFRS experts we can train and educate your team on the current state of IFRS, how it will impact your clients and be a resources for ongoing questions.
For your clients. Acting on your behalf we can come in and provide training and education to your clients and their implementation team.
So whether you lack the capacity or training to get your clients up to speed on IFRS we can fill in the gaps and be a valuable resource you provide for your client. Contact our IFRS Implementation leader, Jim Keeslar to discuss how we can work with your firm.