Equilibrio del consumidor

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Copyright American Institute of Certified Public Accountants Sep 2009 [Headnote] | Strategic considerations for financial managers |


Conversion to IFRS will be far more than a technical accounting exercise. Implementing IFRS will impact many, if not all, aspects of your business operations, including information technology. It may bring companywide changes that will spawn new risks. These include system changes, modifications to processes impacting employees' day-to-day duties, and new accounting policies.
U.S. GAAP and IFRS share many similarities, but they are also different in many areas.
Staff responsible for internal control over financial reporting (ICFR) under Sarbanes-Oxley (SOX) section 404 and operational audits
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This can be complicated and expose the organization to additional risk.
ERP and consolidation systems will need to be assessed to determine if they can handle the requirements of dual ledgers and reporting. Although the system may be structured to handle the requirement, consider the volume of data that will pass through the ERP system. Is bandwidth sufficient to process transactions in a timely manner? For example, your parallel accounting environment may be structured to process a single transaction into two separate accounting streams, which may cause processing lags due to volume. Systems will need to be configured and controls created to avoid cross-pollination of IFRS transactions with U.S. GAAP transactions (and vice versa). Also, for most companies a plan will be needed to maintain statutory reporting ledgers.
Beyond systems, your organization may also need to modify its accounting processes for simultaneous IFRS and U.S. GAAP accounting. The financial statement consolidation of this information, even with systems modifications, will be timeconsuming and will more than likely lead to additional resource requirements for the controller. Staff training for the new processes will also need to be developed and implemented.
As these changes are implemented, your ICFR/operational audit staff will need to continually monitor risks and test

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