IFRS Conversion
The Financial Reporting Council of Nigeria has mandated all companies in Nigeria to convert from Nigeria Generally Accepted Accounting Principles (NGAAP) to International Financial Reporting System (IFRS).
We carry out a detailed conversion exercise that entails; a review of the chart of accounts and general ledger identifying areas that would be affected by the conversion to IFRS; ascertaining whether the EDP method is IFRS compliant and would be useful for subsequent IFRS reporting by the company; train users, re-structure the general ledger and charts of accounts; review all account balances and raise necessary journals to implement the IFRS impact on them; attend to sub-system issues relating to configuration and data capture, and agree on post-implementation reviews with the client.