Audit Firm "De Visu" offers a full range of services on financial statements transformation in accordance with IFRS
From 1 January 2012 public joint stock companies according to the Law of Ukraine "On Accounting and Financial Reporting in Ukraine" and the Law of Ukraine "On Securities and the Stock Market" required to file financial statements prepared in accordance with International Financial Reporting Standards and publish it until April 30 of the year following the reporting year, together with the audit report on their own website and in periodicals.
In addition, they have to report to the National Commission on Securities and Stock Market. Liability for failure to report established in Article 1642 of Administrative Code of Ukraine.
The transition to international standards is very difficult process and involves a few steps:
- comparison of accounting policies developed in accordance with national standards, and accounting policies, developed in accordance with IFRS;
- incoming account balance, confirmed by the audit report according to IFRS at the beginning of year transformation;
- realignment and reclassification of items of assets and liabilities in accordance with IFRS; • adjustments related articles.
Range of services offered by "De Visu" provides training and transformation of financial statements in accordance with IFRS, audit (quarterly, annual), development and implementation of accounting policies for subsequent accounting under IFRS by Clients without assistance.
"Having experience in transformation of the financial statements, as well as being one of 86 audit firms eligible for statutory audit (according to Register of the Auditors’ Chamber of Ukraine on the market today are 1700 firms), we offer not only specific procedure but a range of services related to transformation. This approach achieves the highest quality results, enabling the client once ordering service, further work on the basis of IFRS without external assistance "- said General Manager of Audit Firm "De Visu" Oleksandr Boiko.
