International Financial Reporting Standards

• Delegates who have a good basic knowledge of finance principles and who are looking for best practice and structured ways of achieving leading edge strategic delivery both in planning and implementation of IFRS.

Course objectives

• To understand the role and purpose of IFRS
• To effectively scope and plan IFRS adoption/migration strategies
• To manage implementation throughout all financial functions in a structured way whilst still maintaining the financial management system
• To effectively engage with key stakeholders
• To ensure audit teams are fully prepared
• To leverage the organisational benefits of IFRS

Course content

Key principles of IFRS

• The background and development of IFRS
• Underlying financial principles within IFRS
• Disclosure and transparency aspects
• The current global adoption of IFRS
• Key organisational benefits
• Global best practice

Effective IFRS Implementation

• The Strategic planning process roadmap
• Mapping regional standards to IFRS – GAP Analysis
• Resource planning
• Scoping dual reporting
• Financial function migration – phasing and specific functional challenges
• Strategy sense checks

Effective IFRS Migration

• Critical success factors in implementing IFRS
• Ensuring effective reporting of progress
• “Business as usual” – maintaining key financial activities during adoption
• Support & clarification from IFRS/IAS
• Effective project management
• Auditor training and charter development

Continuous improvement

• Investment leverage strategies
• Funding leverage strategies
• Governance benefits
• Engaging key stakeholders – senior team, marketing, audit, and treasury
• Developing a unified organisational approach

Bringing it all together

• Practical instructor facilitated half day session where delegates will develop IFRS implementation project plans specific to their organisation, utilizing the learning from the previous 4 days