A government decree promulgated in 2015 provides companies with the opportunity of the domestic application of the International Financial Reporting Standards (IFRS) for unique reporting purposes. For some of the companies it will be an obligation while for others it will be an option to apply IFRS instead of the Hungarian accounting standards for the preparation of annual financial statements.

Why choose our IFRS services?

Our IFRS experts have an up-to-date knowledge and extensive experience and are able to prepare IFRS reports and IFRS statements applying systems developed based on clients’ needs (Hyperion) and in the requested frequency for both local and regional management.

As part of our IFRS accounting service, our experts not only perform accounting tasks but also prepare clients’ tax returns, prepare IFRS financial statements and, if necessary, also perform IFRS-based audits and due diligence.

Our IFRS reporting service comprises the following activities:

  • Preparation or IFRS reports
  • Preparation of IFRS financial statements
  • Impact assessment of IFRS adoption
  • Development of strategy for transition to IFRS
  • Definition of the IFRS accounting policy
  • Design and implementation of IFRS systems and controls

As part of our complex IFRS accounting and tax consultancy services,

  • we will develop the data reporting system and processes in accordance with the International Financial Reporting Standards (IFRS),
  • we will assist you in the conversion and transition to IFRS as well as the preparation of related financial statements and tax returns,
  • we will help you interpret IFRS accounting and tax standards and set up best practices. 

Disclosure

Our accounting team covers the latest taxation modifications and legal interpretations published by the tax authority for our clients in a newsletter. Timely information on legislative modifications significantly contributes to financial plans and effective tax optimization.

Our company’s professionals also publish on our blog.

Subscribe to our newsletter to receive our news straight to your mailbox!