Recently IFRS value becomes for many domestic enterprises overriding necessity. IFRS value is such an important because of the universal acceptance of IFRS as one of the leading ways to guarantee the provision of transparent and understandable information about the financial status of the company for all participants patronymic and foreign markets.
Company financials prepared in accordance with IFRS, allows it to access international capital markets and attract foreign investors to obtain favorable credits and successfully undertake an initial public offering (IPO) on international stock exchanges.
Even if the company is not going to go to the foreign market, due to IFRS, it can significantly improve corporate governance. The presence of high-quality and objective information on the company, on the one hand, increases the credibility of management, on the other - facilitates managers to communicate with their shareholders.
There are certain features associated with the valuation and accounting of fixed assets and intangible assets. For example, the large Ukrainian enterprises operating from the Soviet period, fixed assets are often undervalued, as executives often do not know. This situation may result in foregone profits for the company due to lost opportunities to attract debt capital.
In the IFRS and Ukrainian National Accounting Standards in some cases used different types of values. Therefore, in the national practice in the translation of reporting in IFRS becomes necessary to adjust these values. It is often during these adjustments need to independent valuation to IFRS (revaluation of assets for the international audit) and to attract qualified consultant - appraiser.
IFRS value requires an appraiser of a number of competencies and knowledge:
- knowledge of IFRS and national standards, assessment, auditing standards, etc.;
- ability to find common language with the accountant and auditor;
- experience in developing appropriate methodologies.
The cost of IFRS value (assets revaluation for the international audit) shall be specified in each case.
RENTA GROUP company values IFRS on the basis of Certificate of State Property Fund of Ukraine. Experts of our company have many years practical experience value IFRS (assets revaluation for the international audit).
Valuation IFRS is in accordance with procedures as determined by the current legislation of Ukraine, based contract with the customer. The results of the work is made evaluation report of value IFRS, having full legal force to the participants in the transaction and the users of the report.