PwC has developed a flexible and time-efficient methodology called Rapid-GAAP methodology. Rapid-GAAP enables an efficient and effective transition to IFRS with minimum required changes. This is relevant for all companies falling in Phase I timeline of IFRS implementation and other companies directly intending to have IFRS set of financial statements.
Through 12 years of successful conversions across Europe, Asia and the US, PwC has developed and honed a leading practice methodology called TransitionIFRS. This can serve as a basis for you to consider in developing an approach to your own unique conversion process, positioning you to address your specific needs.
Features of the TransitionIFRS methodology