Converting GAAP from HGB to IFRS or US GAAP or between US GAAP and IFRS usually is a tough challenge for an organization. Reasons for such a conversion are manifold.
In any case such a project usually affects different business processes, thereby driving complexity. Different processes and various areas of an enterprise have lots of varying demands. A high number of challenges are to be accomplished.
For a functioning underlying information system, processes and the organization have to be adjusted accordingly, both on group and subsidiary level of entities. In particular it is also the IT infrastructure that usually requires modifications, not only in the accounting but also in the ERP-system.
Talk to us if you are seeking for a project partner with appropriate experience in conversion projects and in international GAAP navigating you safely through your project.