The Path to IFRS Conversion
On 15 December, Deloitte was very pleased to comment and provide recommendations to the Ministry of Finance (MOF) of the its draft proposal of IFRS Conversion Project. We see this is a very good opportunity for Deloitte to share our experience in IFRS Conversion with MOF (at country level and company level). IFRS conversion projects will usually be challenging, depending on the differences between the local standards and IFRS (or the IFRS based standards that your regulator has decided to enforce). With many stakeholders involved, and given the combination of marketing, financial reporting, human resources, IT, process, controls, tax and risk management issues, change needs to be managed.
Our Services Offering
Deloitte has extensive IFRS experience in serving a variety of clients. With thousands of IFRS-experienced professionals in our global and local network, we provide a comprehensive array of services related to IFRS and, as a multidisciplinary organization, are positioned to assist companies in addressing a wide range of IFRS aspects.
• Assessing the differences between local GAAP vs IFRSs (GAAP Variance Analysis);
• Evaluating the potential effects of IFRS on the company’s financial statements (focus on earnings and assets);
• IFRS Conversions for M&A and management purposes;
• Implementing IFRS conversions, providing support with technical research, project management, and training;
• Evaluating the potential effects of IFRS 15 – Revenue from customer contract, IFRS 9 – Financial Instrument and IFRS 16 – Leases;
• Assisting in the evaluation and documentation of system changes and options.
Deloitte Contacts
Pham Nam
Partner
Ha Noi, Vietnam
Trung Nguyen
Partner
HCMC, Vietnam
Trinh Bui
Partner
HCMC, Vietnam
Tel: +84 24 6288 3568
npham@deloitte.com
Tel: +84 28 3910 0751
trungnguyen@deloitte.com
Tel: +84 28 3910 0751
trabui@deloitte.com
