Sample Case StudyAudit· Manufacturing
Preparing a manufacturing group for its first IFRS audit
- Challenge
- A manufacturing group with national accounting records needed audited IFRS statements for a prospective lender within a fixed timeframe.
- Approach
- We assessed differences between national accounting and IFRS, agreed the accounting policies with management and planned the audit around the lender's deadline.
- Solution
- The finance team prepared the conversion with our methodology, while the audit team tested the opening balances and key judgements in parallel.
- Outcome
- The group received an audit opinion on its IFRS statements and a documented conversion process for the following years.