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Report on IFRS for investment funds

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07 Jan 2009

Deloitte (United States) has published IFRS for Investment Funds: More Than Just Accounting and Reporting.

The report provides regulatory background and steps to consider moving forward, including the following sections:
  • Industry Views on IFRS for Investment Funds
  • Challenges and Opportunities for Investment Funds
  • Your Roadmap
  • Technical Accounting Issues for Investment Funds
  • More Than Accounting and Financial Reporting
  • Smoothing the Transition
  • Time for Leadership
  • Resources & Contacts
The report points out that an IFRS conversion is not primarily an exercise in reshuffling the chart of accounts, nor is it principally a technical accounting and financial reporting matter. Companies are likely to spend significant amounts of time addressing concerns around tax, valuation, legal and compliance, people, technology, and communications. And the impact of consolidation differences will likely have a significant impact on private equity funds and the companies that manage these funds.

 

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