Beyond borders.
The impact of IFRS accounting standards is already being felt by U.S. companies as more and more U.S. subsidiaries of foreign companies are converting to IFRS to align their financial reports with their parent company. Further, transitioning from U.S. GAAP to IFRS is not just an accounting issue; it can lead to significant changes throughout the organization. A switch to IFRS can impact information systems, vendor contracts, tax reporting, benefit plans, and more. Proper planning is important to minimize disruptions and controlling costs associated with this conversion process.