Is your company prepared for IFRS adoption in Colombia?
Getting ready for IFRS implementation involves not only a high level of expertise, but also time and resource. But it’s a necessary task; in fact, top management throughout Colombia are looking at implementation options as we speak.
TMF Group’s local accounting experts can help you to get ready for IFRS implementation. Our three stage approach enables efficiency and agility.
- Diagnostic: A preliminary study of your company and internal accounting policies to understand the differences between IFRS and local accounting standards.
- Implementation: Design changes in internal accounting policies, structure financial statements and prepare the opening IFRS balance sheet.
- Adoption (“Go-live”): Assure implementation activities are fully completed and IFRS is being applied. Your company should then be prepared to submit the first comparative financial statements.
Contact our accountant experts to help you with IFRS implementation