First-time Adoption

Mazars has many years of experience in helping clients with their transition from local GAAP to IFRS and in assisting them around the world to provide accurate and meaningful IFRS financial reporting.

Our experience was gained largely in Europe where IFRS was adopted in 2005, building up substantial expertise across various sectors including insurance, banking, retail, media, property, telecom, power, manufacturing, agriculture and transport.

Our IFRS Team comprises partners and senior staff members specialized in IFRS and located in offices around the world in Asia Pacific, Europe, South Africa, South America and the USA. Now, our experts have moved nearby your location.

We are an active player in the IFRS standard-setting process as Mazars is widely recognized for its technical skills:

  • Jean-Louis Lebrun, partner, is a member of the IFRIC, the interpretative body of the IASB;
  • Fabienne Colignon, senior manager, is on secondment at the IASB;
  • Sébastien Landry, senior manager, was on secondment at the IASB for a three-year period.

We work closely with our clients and follow a project structure, which we tailor to individual needs. Strong teamwork, solution driven advice and ready access to technical experts are the hallmarks of our approach.

As advisor, Mazars can help you through all stages of the IFRS reporting lifecycle including:

  • Early diagnosis of major differences,
  • Evaluation of the impact of the transition,
  • Tailored training of your staff,
  • Project management approach to IFRS transition
  • Advise on complex issues (e.g. financial instruments, business combinations, share-based payments),
  • Independent valuations (IAS 40, IFRS 2 or IFRS 3),
  • Assessment of IT system changes,
  • Management of stakeholders’ perception.

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