Costs of IFRS Conversion

Guessing the Costs of IFRS Conversion - CFO

Accenture didn't ask the respondents how they came up with their estimates. However, Barton says companies should expect, on average, that half of the work involved will require external sources. He added that 40% to 50% of IFRS work involves technology; 30% to 40% processes; and about 20% is technical accounting work, related to working through the differences between the two standards.

SOXの導入よりはお金がかからないと言われているけど、

U.S. executives expect to pay more than their European counterparts did to convert to International Financial Reporting Standards. Depending on company size, they estimate they'll spend between 0.1% and 0.7% of annual revenue to move from U.S. GAAP to the global rules, an endeavor publicly traded companies in Europe undertook four years ago at an average cost of 0.05% of revenue.

The predictions are in a report to be released tomorrow by consultancy Accenture, which in December surveyed 208 executives at U.S. companies with revenues above $1 billion (more than three-fourths of respondents have finance-related titles and work at companies with more than $5 billion in revenue). Not only do they expect to pay more than the Europeans did, but many believe they will be on the hook for substantially more than the 0.125% to 0.13% of revenue that the Securities and Exchange Commission has pegged as the average for U.S. companies.

２０１４年からIFRSを導入するには２０１１年からGAAPとのパラレルで財務諸表を作成しなくてはいけないのだから、お金もだけど、両方の基準で財務諸表を作成する為に必要な人材の確保が大変そう。