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Multi GAAP reporting

Companies who are required to submit reports in both local IFRS and GAAP are faced with the unique challenge of maneuvering the complexity of two reporting languages that have differences that range from slight to substantial. This is further complicated in the case of IFRS transitions where governments have additional requirements or a country is transitioning from one language to another.

IFRS and Multi-GAAP reporting companies are exposed to additional reporting risk, especially those of material misstatement, weakness, or deficiency since controls and audits to statements must be robust enough to handle both languages.

Control is key to managing multi-GAAP reporting, as is keeping on top of data requirements and using information systems to facilitate the collection and reporting of such data. Keeping on top of accounting standards updates and applying them is also imperative.

Discover how CCH Tagetik Performance Management Software delivers:

disclosure and compliance