International Accounting

International accounting standards such as the International Financial Reporting Standards (IFRS) are increasingly gaining in importance. Capital market-oriented companies with a registered office in the EU have been under a requirement to prepare their consolidated financial statements according to IFRS since 2005. Moreover, mid-sized enterprises will also increasingly have to deal with IFRS as a result of increased globalization and the associated possibility of tapping into further sources of capital.

Our services in this area are as follows:

  • Conversion of national accounting to IFRS
  • Preparation of financial statements according to IFRS
  • Audits of IFRS financial statements
  • Reviews of quarterly and interim reports according to IFRS
  • Evaluation of complex IFRS issues
  • IFRS client workshops and seminars

Conversion of national accounting to IFRS

The conversion to IFRS accounting is a complex task, which poses a challenge for both management and employees. In addition, its effects on operational processes and systems should not be underestimated. With their long-standing professional expertise and understanding of business interrelations and processes our specialists can support you in the conversion process and in project implementation that is customised to the needs of your company.

Preparation of financial statements according to IFRS

Companies with international corporate structures and subsidiaries of listed companies use our specialist IFRS expertise for the preparation of IFRS financial statements and IFRS reporting packages, to the extent that we are not active as auditors of these companies.

Audit of IFRS financial statements

We have long-standing expertise in audits of IFRS financial statements, particularly of listed companies. Our membership in the international network of Crowe Horwath International enables us to provide competent local services for international companies through independent local auditing firms, our network partners.

Reviews of IFRS quarterly and semi-annual reports

The review of quarterly and interim reports establishes the reliability of financial data. The reviews performed by AWT Horwath ensure that interim financial information does not contain any material representations.

Evaluation of complex IFRS issues

IFRS standards are constantly undergoing change and fundamental revisions. Each change is associated with new challenges for companies. In addition to these developments companies are also confronted with the complexity involved in the implementation and practical application of IFRS standards in business transactions. AWT Horwath can support you in analysing the effects of the new standards and regulations, as well as in the implementation of the relevant changes. On the other hand, we can also advise you in the evaluation of complex business transactions and critical accounting issues, such as corporate acquisitions, lease transactions, impairment tests, etc.

IFRS client workshops and seminars

To assist your employees in the practical application of new standards and regulations, as well as in the treatment of complex issues, our specialists are readily available to provide you with in-house workshops and seminars on such topics as purchase price calculation, impairment test, deferred taxes, etc.