[Radio KPMG] IFRS 18: vers une nouvelle présentation des états financiers

Introduction

This tutorial provides a comprehensive overview of the implications of IFRS 18 for financial reporting and accounting systems. As companies prepare for this new standard, understanding its impact on consolidated accounts and financial communication processes is crucial. This guide will walk you through the key considerations and steps necessary for adapting to IFRS 18.

Step 1: Understand IFRS 18 Requirements

• Familiarize with the Standard: Review the key provisions of IFRS 18, focusing on how it alters the current reporting framework.
• Impact Assessment: Analyze how IFRS 18 will affect your organization’s financial statements, specifically in relation to consolidation processes.

Step 2: Evaluate Your Accounting Information Systems

• System Review: Assess your current accounting information systems to identify necessary updates or changes for compliance with IFRS 18.
• Integration Needs: Ensure that your systems can integrate new reporting requirements, especially regarding the preparation of consolidated financial statements.

Step 3: Update Reporting Processes

• Revise Reporting Procedures: Modify your financial reporting processes to align with IFRS 18 requirements. This includes adjustments in data collection and presentation formats.
• Training Staff: Conduct training sessions for your accounting team to ensure they understand the new requirements and how to implement them effectively.

Step 4: Address Financial Communication

• Stakeholder Communication: Prepare to communicate the changes brought by IFRS 18 to stakeholders, including investors and regulatory bodies.
• Transparency: Emphasize transparency in your financial communications to maintain trust and clarity regarding your financial health under the new standard.

Step 5: Monitor Compliance and Feedback

• Ongoing Compliance Checks: Establish a framework for regular compliance checks to ensure that all aspects of IFRS 18 are being adhered to.
• Feedback Mechanism: Implement a system to gather feedback from users of financial reports to continuously improve the reporting processes.

Conclusion

Adapting to IFRS 18 requires a thorough understanding of the standard and its implications for accounting practices. By following these steps—understanding the requirements, evaluating systems, updating reporting processes, improving financial communication, and ensuring ongoing compliance—you can effectively prepare your organization for the transition. As you move forward, stay informed about further developments and best practices in financial reporting.