Support for the Implementation of IFRS

Over 101 countries have already adopted IFRS (International Financial Reporting Standards), including 14 of the G20 countries with the remaining 6 permitting or requiring IFRS to be used in certain circumstances or working towards IFRS convergence . In Japan, IFRS can be voluntarily adopted by listed companies that meet certain criteria, for fiscal years ending on or after 31 March 2010. A new scheme of cooperative relationships between the IASB (International Accounting Standards Board) and national accounting standards-setting bodies has been launched, and the IFRS Foundation opened its first satellite office, the Asia-Oceania regional office in Tokyo in October 2012.

Applying IFRS for the first time can have a large impact on the numbers a company presents in its financial statements and can also have a significant impact on the company's financial reporting processes, internal controls, information systems, tax and finance systems in addition to the changes in the accounting standards themselves.
Our accounting professionals have extensive experience and knowledge relating to IFRS implementation and can provide client-oriented services for IFRS implementation projects and ensure close communication with clients throughout the process.

Please refer to the following link for IFRS updates.

Advantages of Introducing IFRS

IFRS is becoming the single global accounting standard and adopting it in your company will bring many advantages to stakeholders such as investors and analysts, and will provide companies with many medium and long term benefits as the accounting standards become an integral part of the businesses infrastructure.

Business Advantages

  • * Assists in business growth and global expansion by accelerating the company valuation, raising capital abroad and promoting rapid decision-making
  • * Provides more timely responses to the requirements of stakeholders such as investors
  • * Strengthens a business global risk management

Management Advantages

  • * Provides unified direction to strengthen the global management of a group
  • * Improves the efficiency of the financial operations of a business and can facilitate useful ways to promote related measures such as the trend of setting accounts earlier in the fiscal year
  • * Enhances the skills of the global accounting staffs

Advantages of Our Services

To succeed in an IFRS transition project, it is necessary to begin the project at the earliest possible time, develop a specific project plan, efficiently communicate with internal and external stakeholders and provide training to employees.
Due to the size of the project, various problems are anticipated in undertaking an IFRS implementation project. Due to our accounting professionals extensive experience and advanced knowledge in IFRS implementation projects, any issues are identified and dealt with as early as possible.

Examining Points of Issue

A wide range of areas and issues are reviewed during an IFRS implementation projects and our team will identify the essential issues and areas. Failing to identify these key areas can cause the whole project to be delayed. Based on our knowledge and expertise, we identify these key areas and issues and discuss them with you in detail. Moreover, we ensure extensive communication with the client in making decisions about accounting principles and ensure that our staffs thoroughly understand the client's organization when determining both the merits of different accounting principles to the client.

Priority

Prioritizing key points and appropriately managing business resources is key to the success of IFRS implementation.
We provide extensive support and project management to the client and their staff from the development of the plan, through implementation, to successful completion.

Based on their past audit experience, our professional staff will work with our clients' auditors (audit firms) to make necessary and effective adjustments to the financial.

Communication with auditors is essential in the successful completion of projects, especially when developing accounting policies where it is necessary for clients to determine the policies that suit their business and then work with external auditors to reach a consensus. Our experienced CPAs provide support to our client's while also acting as an intermediary between the clients and auditors. We do not simply rely on accounting standards, as our services are based on the practical knowledge and experience of our qualified staff.

Providing High Levels of Practical Experience

In many cases, companies are not equipped with the knowledge and skills needed to implement IFRS projects. Our professional staffs with their high level of practical skill and who have experience in major audit firms have been carefully recruited for these essential skills and knowledge. For IFRS implementation projects we provide staff who are equipped with excellent IT skills (data collection techniques), communication skills and efficiency.

Pursuit of Putting Plans into Effect and its Work Efficiency

It is often difficult to manage the tight timeframes in place for large projects, especially where staff s are required to work on multiple tasks concurrently. At JBA, Our project members implement projects on site to ensure the most efficient completion of the project and that the project meets the required timeframes.

Strengths of the JBA Group

Our professionals, with Japanese and U.S. CPA qualifications, as well as our consultants provide hands-on services in an efficient and timely manner.
Strengths on JBA Group
Abundant experiences in IFRS implementing services <Examples for past performance>
Support for IFRS Financial Statement preparation for financial institutions listed in the first section of the Tokyo Stock Exchange
Support for IFRS introduction for manufacturing companies listed in the first section of the Tokyo Stock Exchange
Support for IFRS introduction for retail companies listed in the first section of the Tokyo Stock Exchange
Work on impact analysis for manufacturing companies listed in the first section of the Tokyo Stock Exchange
Professionals Japanese CPAs, U.S. CPAs and Japanese CPTAs
Hands-on Possible to work at the customer site as a member of the project team
Speed Prompt correspondence due to our flexible organization structure
Global Services Available in English and Chinese

Overview of IFRS Implementation Project

Overview of IFRS Implementation Project

Our Service

IFRS国際財務報告基準_S
ナレッジ&ニュース_S
採用情報_S
お問い合わせ_S
Back to
top of page