IFRS reporting

Client
Two Dutch multibillion euro companies merged their businesses. Their activities relate to consumer products.

Opportunity
Each of the two companies used their own reporting standard, Dutch GAAP versus IFRS. Given the merge it was decided that the new company will use IFRS as their reporting standard. A major transition process had to be executed.

Global Forward Approach
Global Forward was commissioned to support the transition. We performed an analysis of the impact and risks of transitioning from Dutch GAAP to IFRS with respect to internal and external financial statements and tax accounting.  We shared our knowledge with the client. A joined effort targeting the maximum result.

Results
The transition has been completed successfully. We shared our knowledge and the company operates independently now. At present we have been asked to draft technical IFRS memos supporting the current organizational changes.