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International Financial Reporting Standards (IFRS) restating

By the Law of Ukraine "About Accounting and Financial Reporting in Ukraine" provides for mandatory compilation of public joint stock companies, banks and insurers, as well as enterprises carrying out business activities by types, defined by Cabinet of Ministers of Ukraine, financial statements and consolidated financial statements in accordance with IFRS.

Restating financial statements is the process of IFRS compilation of financial reporting based on the data items in the financial statements prepared according to the rules of national accounting standards by recognizing (the qualification and evaluation), and the disclosure of information about the objects of accounting in accordance with IFRS requirements.

There is no unified methodology for restating of Ukrainian statements into statements that will correspond with IFRS. In each individual case, it is influenced by the specifics of the financial and economic activities, especially the organization of accounting and accounting policies, the availability of financial resources and qualified people in this field.

We offer You the restating of financial statements service, which includes the following obligatory stages:

  1. Study of features of Clients business, accounting procedures and accounting policy.
  2. Analysis of financial statements prepared in accordance with SSAP. Identifying of variances between SSAP and IFRS.
  3. The development of accounting policy in accordance with IFRS.
  4. Asset and commitment valuation.
  5. Compilation of restating schedules and correcting entry on each account of accounting.
  6. Compilation of financial statements in accordance with IFRS requirements.


For determination of price for IFRS restating services You may fill out our questionnaire and send it on info@kupol.kiev.ua.



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