P A R Y & Co
P A R Y & CO


IFRS stands for International Financial Reporting Standards, which are formulated by IASB, an International body. ICAI has recently released a concept paper on convergence with IFRS detailing the adoption of IFRS w.e.f. 1st April 2011 because it improves comparability of Financial Statements at the Global level, results in better financial reporting, better access and reduction in the cost of capital raised from global capital market.

A dedicated team of P A R Y & Co. has taken this challenge as opportunity and developed various tools & methodologies for the smooth IFRS convergence of financial statements. Adequate number of experienced professionals with practical knowledge of IFRS convergence is ready to serve the corporate sector.

IFRS convergenece should not only be looked as a finance function or matter related to auditors only. It involves a fundamental change to an entity’s financial reporting system and process. It will require a detailed knowledge of the standards and the ability to consider their impact on business transactions and performance measures. Therefore, IFRS division of P A R Y & Co. has developed in house training programmes. We at P A R Y provide consultancy to the corporate sector to create an awareness amongst its management team, finance department and its investors regarding the likely effects on its results after shifting to reporting as per IFRS. We explain them the reasons for the volatility in the results of the company, like change in EPS, P/E Ratios, etc. We also offer our services to our professional collegeuges and their staff members to build adequate IFRS skills and create a team of professionals, who can manage the conversion projects for Indian Corporates.

We are also instrumental in implementation of “Fair Value Concept” by providing professional valuers & acturials and to assist the corporate sector in arriving at reliable fair value estimates.