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IFRS Implementation Services

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ICAI Registered · Mumbai's Trusted CA Firm · 15+ Years

Report in the Global Standard — IFRS, Done Right

Whether you're reporting to a foreign parent, eyeing an overseas listing, or closing a cross-border deal, we convert your numbers to IFRS, reconcile the IND AS differences, and deliver reporting your global stakeholders and auditors can trust.

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Our IFRS Service at a Glance

15+Years of financial reporting expertise
6Core IFRS implementation service lines
100%Audit-ready IFRS reporting & group packs
140+Jurisdictions where IFRS is the standard
15+ Years of Experience
75+ Team Members
6 IFRS Service Lines
100% Audit-Ready Output

What Is IFRS Implementation

IFRS Is the Language of Global Finance. We Help You Speak It Fluently.

International Financial Reporting Standards, issued by the IASB, are the reporting language of over 140 jurisdictions. For a growing Indian business, IFRS becomes essential the moment you cross a border — reporting to a foreign parent, listing or raising capital overseas, or closing a cross-border transaction.

Here's the nuance many miss: even if you already report under IND AS, you're not automatically IFRS-compliant. IND AS is converged with IFRS but carries a number of carve-outs — deliberate differences. Producing genuine IFRS numbers means reconciling those differences, and that's precisely where PKJN & Associates LLP adds value.

Because we work across both frameworks — and run these conversions hand-in-hand with our Audit & Assurance and IND AS teams — you get one partner who bridges the domestic and the global.

What IFRS Implementation Covers

  • ✔ Confirming why and where IFRS is required for your group
  • ✔ Bridging IND AS to IFRS — reconciling the carve-outs
  • ✔ Opening IFRS balance sheet & first-time adoption (IFRS 1)
  • ✔ Financial instruments (IFRS 9), revenue (IFRS 15), leases (IFRS 16)
  • ✔ Group reporting packs aligned to your parent's manual
  • ✔ IFRS-compliant accounting policies & disclosures
  • ✔ Full IFRS financial statements with audit support
  • ✔ Support for overseas listing, fundraising & cross-border M&A

Our Services

Six Core IFRS Implementation Services

From confirming why IFRS is required to delivering audit-ready statements and group packs — scoped to your group structure, reporting purpose, and timeline.

01

IFRS Applicability & Scoping

We establish exactly why IFRS is needed — foreign-parent reporting, overseas listing, or a cross-border deal — and define the scope, reporting purpose, and entities in play before any conversion work begins.

Scoping
02

IND AS to IFRS Conversion & Reconciliation

The heart of most engagements — we bridge the carve-out differences between IND AS and IFRS, pass the required adjustments, and produce a clear, documented reconciliation between your IND AS and IFRS numbers.

Carve-out Bridge
03

First-Time Adoption (IFRS 1)

We prepare your opening IFRS balance sheet at the transition date, select the appropriate exemptions, apply mandatory exceptions, and build the reconciliations from your previous framework that anchor every future period.

IFRS 1
04

Group Reporting Packs & Consolidation

For Indian subsidiaries of overseas groups, we prepare IFRS reporting packages aligned to your parent's group accounting manual and timetable — ready to drop straight into the group consolidation.

Group Reporting
05

Key IFRS Standards Implementation

Hands-on application of the high-impact standards — IFRS 9 (expected credit loss and instrument classification), IFRS 15 (five-step revenue model), IFRS 16 (leases), and IFRS 3 (business combinations).

9 · 15 · 16 · 3
06

IFRS Financials & Audit Support

We prepare full IFRS financial statements — standalone and consolidated — with disclosures and supporting workings, and coordinate with your group and component auditors to get the numbers signed off on time.

Reporting & Audit

How We Work

Our Four-Phase IFRS Conversion Process

A controlled, milestone-based conversion from scoping to audited IFRS reporting — with the impact and differences understood before you commit.

1

Scoping & Impact Assessment

We confirm the reporting purpose, identify the entities in scope, and map the differences between your current framework (IND AS or local GAAP) and IFRS.

2

Conversion Design & Policy Alignment

We set the transition date, align accounting policies to IFRS and any group manual, and finalise IFRS 1 elections and the conversion approach.

3

Conversion & Reconciliation

We pass the adjustments, build the opening IFRS balance sheet, and prepare a documented reconciliation bridging your IND AS or local numbers to IFRS.

4

Reporting & Audit Support

We deliver IFRS financial statements or group packs and work with your auditors to close out queries and sign off the numbers cleanly.

Why Choose PKJN

One Partner Who Bridges the Domestic and the Global

Most firms know one framework well. Cross-border reporting demands fluency in both — because the real work is in the differences between IND AS and IFRS, and in producing numbers that satisfy a foreign parent, an overseas exchange, or an international auditor.

As a Mumbai-based CA firm with 15+ years in audit and financial reporting across both IND AS and IFRS, we deliver conversions that hold up under global scrutiny.

Dual-framework fluency

Deep command of both IND AS and IFRS — and the carve-outs between them

Group reporting fluency

Packs built to your parent's accounting manual and reporting timetable

Direct partner access

Senior professionals lead every engagement — not delegated to junior staff

Audit-ready, cross-border

Documented workings built to satisfy group and component auditors

15+Years of CA Experience in Mumbai
75+Team Members
2Frameworks — IND AS & IFRS
8+Industries Served Across India

Industries We Serve

IFRS Expertise Across All Major Sectors

Every conversion is tailored to your industry's transactions, group structure, and the standards that matter most for cross-border reporting.

🏭

Manufacturing

Inventory, PP&E & component accounting for global group reporting

📦

Trading & Distribution

Revenue timing & receivables ECL under IFRS 15 & 9

💻

Technology & IT

SaaS & multi-element revenue, ESOPs & overseas-listing readiness

🏗️

Real Estate & Construction

Revenue over time, borrowing costs & joint-arrangement accounting

🏥

Healthcare & Pharma

R&D, intangibles & business combinations under IAS 38 & IFRS 3

💼

Professional Services

Revenue, lease & employee-benefit measurement for group packs

🚀

Startups & SMEs

Foreign-investor reporting, convertible instruments & IFRS readiness

🏦

Financial Services

Expected credit loss & instrument classification under IFRS 9

Related Services

Complete Financial Reporting & Assurance

IFRS implementation works best alongside your domestic reporting and assurance. Explore our related services from PKJN & Associates LLP.

IND AS Implementation

Transition support & technical guidance for Indian Accounting Standards adoption and statutory financial reporting.

Explore Service

Audit & Assurance

Statutory, tax & internal audits conducted with professional diligence and complete documentation.

Explore Service

Risk Advisory Services

Forward-looking risk identification, internal controls & fraud prevention frameworks for a resilient business.

Explore Service

Risk Control Matrix (RCM)

Structured documentation of risks, controls & test procedures for ongoing monitoring and governance.

Explore Service

FAQs

Common Questions About IFRS Implementation

Answers for CFOs, finance controllers, and management teams handling cross-border reporting or an IFRS transition in Mumbai.

Still Have Questions?

Our international reporting team is available for a free initial consultation. No obligation — just clarity on your IFRS scope, differences, and timeline.

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IFRS (International Financial Reporting Standards) are issued by the International Accounting Standards Board and used in over 140 jurisdictions worldwide. IND AS are India's own standards, converged with IFRS and notified by the Ministry of Corporate Affairs for statutory reporting in India. The two are very close but not identical — IND AS contains a number of "carve-outs" where it deviates from IFRS to suit Indian conditions. A company reporting under IND AS therefore still needs a reconciliation to produce true IFRS financials.
Several situations call for full IFRS rather than IND AS: reporting to a foreign parent that consolidates under IFRS, planning an overseas listing or raising capital abroad, cross-border M&A and due diligence, or satisfying foreign lenders and investors who require IFRS financials. In each case, IND AS numbers must be converted and reconciled to IFRS — bridging the carve-out differences — which is exactly what we handle.
IFRS 1 governs an entity's first IFRS financial statements. It requires preparing an opening IFRS balance sheet at the transition date and applying IFRS retrospectively, with a set of optional exemptions and mandatory exceptions to make the transition workable. Choosing the right elections and preparing the reconciliations from your previous GAAP or IND AS to IFRS is critical, as they set the baseline for every future period.
The highest-impact standards for most businesses are IFRS 9 (Financial Instruments) with its expected-credit-loss model, IFRS 15 (Revenue from Contracts with Customers) with its five-step model, and IFRS 16 (Leases), which brings most leases onto the balance sheet. Others that commonly drive adjustments include IFRS 3 (Business Combinations) and IAS 19 (Employee Benefits). Where you already apply IND AS, the differences from their IND AS equivalents are usually the main focus.
Yes. A large part of our IFRS work is preparing IFRS group reporting packages for Indian subsidiaries of foreign parents. We align your reporting to the parent's group accounting manual and reporting timetable, convert IND AS or local numbers to IFRS, and deliver the packs your group needs for consolidation — coordinating with your group and component auditors where required.
It depends on the scope — a group reporting pack for a single entity is far quicker than a full first-time IFRS conversion for a group with subsidiaries. A focused conversion or reporting pack typically takes 3–6 weeks; a full first-time adoption across a group can take 10–20 weeks. We agree scope and a timeline aligned to your group or listing deadlines at the outset.
Both. We can run the entire engagement — scoping, conversion, IND AS-to-IFRS reconciliation, policies, and preparation of IFRS financial statements or reporting packs — or support your finance team in an advisory and review capacity. We also work alongside your auditors so the IFRS numbers are signed off cleanly, tying directly into our Audit & Assurance and IND AS practices.
Our office is in Andheri East, Mumbai (Suite No.102, L1, Ashok Premises, Nicholas Road — 400069). We serve businesses across Mumbai, Thane, Navi Mumbai, and Pune, with pan-India and cross-border engagements for audit, assurance, and international financial reporting. Call us on +91 98190 00511 or contact us online for a free initial consultation.

Reporting Across Borders? Let's Talk IFRS.

Speak to our international reporting team. We'll confirm your IFRS scope, quantify the differences from your current numbers, and map a clean path to audit-ready IFRS reporting.

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📍 Suite No.102, Ashok Premises, Nicholas Road, Andheri East, Mumbai — 400069  |  📞 +91 98190 00511

Head Office

  • Suit No.102, L1, Ashok Premises, Nicholas Road, Andheri (East), Mumbai – 400069, Maharashtra, India.

Contact

  • +91 98218 32683
  • nainitsavla@savlagroup.in

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