IFRS - Maintaining a Global Financial Perspective
Delap embraces the value of staying up to date with national and international accounting practices. As the world continues to globalize, Delap continues to invest in understanding financial reporting standards beyond the United States.
International Financial Reporting Standards (IFRS) are already recognized by over 100 nations and reporting jurisdictions around the world. In 2008, the SEC removed the requirement for foreign private issuers reporting under IFRS to reconcile their financial statements to U.S. GAAP.
As the global accounting trend continues, the shift in the acceptance of and requirement for IFRS expertise will expand. As a leading northwest accounting firm, Delap is embracing the opportunity to offer our clients access to top quality advice with respect to IFRS. The Delap audit team includes CPAs with diverse international accounting experience who are local leaders in IFRS. We know this expertise will help our clients as they increasingly operate in international markets. The knowledge to understand, interpret, and advise on financial statements prepared in accordance with IFRS will provide a unique competitive advantage.
Delap routinely partners with companies that have overseas operations. The services rendered to these organizations include:
- Auditing and reviewing financial statements prepared in accordance with IFRS
- Consolidating foreign subsidiaries that have been prepared in accordance with IFRS or other local accounting standards
Delap's active involvement with Leading Edge Alliance enhances the firm's ability to serve clients with overseas operations. This professional alliance allows Delap to call upon member firms around the world to provide clients with top-notch expertise in any foreign marketplace.
Northwind Insurance Company, Ltd.