IAS-IFRS Consulting
On first review by North American firms, the adoption of International Account Standards (IAS) has been regarded by some as merely an accounting and reporting challenge, to be addressed with minor changes to a reporting application. This has proven to be wholly inaccurate by experiences of those firms in over 120 countries who have already converted.
The challenge is compounded by the far reaching process, procedure, systems and resources issues that IAS adoption will demand to be addressed during International Financial Reporting Standards (IFRS) implementation. Experience in: Program and Project Management; Business Analysis; Gap-Analysis; Technology Evaluation, Selection and Implementation; Resource Management; underscored by experienced and sound Change Management will be required to successfully deliver in the mandated timeline defined by North American regulatory bodies.
IFRS & XBRL
A major opportunity exists during the IAS adoption, that of on-boarding an enabling technology known as "eXtensible Business Reporting Language" (XBRL). XBRL is an electronic language describing financial data according to global standards. It could be said that IFRS gave birth to XBRL and XBRL caused IFRS to be more readily adopted. Opensoft with over 14 years in Business and Technology consulting in North America is best able to assist your firm in understanding and taking advantage of these very important enabling technologies.
Opensoft Services
Opensoft Consultants have previous experience of IAS adoption in European countries and bring those "lessons learned" and methods to our clients in North America. We have complemented them with our North American experience in: Program and Project Management; Analysis & Diagnostic; Gap-Analysis (as-is/to-be); RFI/RFP & Vendor Management; Solutions implementation; and overall Change Management expertise.
For a no-obligation, confidential discussion of any current or future requirements, please e-mail us at info@osft.com.
