Consolidation and IFRS
Financial information is becoming increasingly important as financial markets develop. With globalization, investors require comparable financial information.
IFRS is the ideal response to the growing need for harmonization and standardization of financial information produced around the world.
In Morocco, the legal requirement turning consolidation mandatory for some groups stimulated the expansion of IFRS. This key change has enabled us provide our expertise to companies willing to launch IFRS conversion and consolidation projects:
- Article 47 of the Banking Act;
- Article 5 of Circular 05-06 of the AMMC;
- Law No. 38-05 of February 14, 2006.
Thus, we have assisted major credit institutions, leading national companies and subsidiaries of multinationals in their IFRS conversion projects and the preparation of their consolidated financial statements..