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Inside Internal Controls

News and discussion on implementing risk management

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IFRS conversion plan

International Financial Reporting Standards – it’s all about the details

At the end of September, the International Financial Reporting Standards Foundation released an update to its Guide through International Financial Reporting Standards.

 

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Are spreadsheets part of your IFRS conversion plan?

I bet more than a few of our readers use spreadsheets in their accounting, payroll and HR processes. You might even be thinking of (or currently) using them in your efforts to convert from GAAP to IFRS. And why wouldn’t you? The CICA says, “Spreadsheets are dynamic tools that can provide a wide variety of functionality at minimal cost. Consequently, in an environment of stringent deadlines and temporary data processing needs, they are used to fill the gaps in functionality within the computing environment”. But there are risks…

 

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