Transition to IFRS and transformation of the statements
We transform the statements to the international standards and prepare the company for audit. Required by banks, investors and parent companies.
The price depends on the scope: we calculate it from your own specification or after an express audit
Depends on the size of the company, its industry specifics and whether a one-off transformation or ongoing maintenance is needed.
You need this if
What you get
What is included
Gap assessment
We compare the current NSBU accounting with the IFRS requirements and draw up a list of the differences: where adjustments are needed, where data is missing, where revaluation will be required.
Transformation of the statements
We rebuild the statements in IFRS format: adjustments, reclassification, disclosures. We produce the full set.
IFRS accounting policy
We draft the document that lets the company keep its books from then on, either on its own or with us.
Audit preparation
We bring the documentation to a state an auditor can work with and support you through their questions.
Parallel accounting
If IFRS reporting is needed continuously, we set up its maintenance in parallel with the national accounting.
Legal framework
The transition is governed by Resolution of the President of the Republic of Uzbekistan No. PP-4611. Some companies are required to apply IFRS; for the rest it is a voluntary decision, usually connected with raising finance.
If you are not sure whether your company falls under mandatory application, that is the first thing we check.
Price
The price depends on the scope: we calculate it from your own specification or after an express audit
Depends on the size of the company, its industry specifics and whether a one-off transformation or ongoing maintenance is needed.
Questions and answers
- How does IFRS differ from our own accounting?
- The national standards are geared to tax reporting, while IFRS is geared to a reliable picture for an investor: fair value of assets, recognition of liabilities, disclosure of risks. That is why the same transactions are presented differently.
- Do we need a full transition or is transformation enough?
- If IFRS statements are needed once or once a year, transformation is usually enough. If they are needed continuously and promptly, parallel accounting is required. We decide this at the assessment stage.
- How long does the first transformation take?
- The first one takes longer than the ones that follow, because the history has to be reconstructed and the methodology built. We name the timeline after the gap assessment.
Terms of work
Signed before any documents change hands. Access to the accounting database is limited to the specialists working on your company.
Urgent enquiries are answered faster — see the procedure for an urgent situation.
A lead specialist and a project manager are assigned to your company. Any replacement is agreed with you.
Discuss your task: transition to ifrs and transformation of the statements
Describe the situation in a couple of sentences and we will propose an order of work. If the matter is urgent, calling is faster.
Call+998 97 702 28 88