According to IFRS Foundation’s research, ‘more than 145 jurisdictions now require the use of IFRS Accounting Standards for all or most publicly listed companies, whilst a further 13 jurisdictions permit its use’.
The Federal Democratic Republic of Ethiopia’s Parliament ratified IFRS, IFRS for SMEs and IPSAS into law and issued Proclamation No. 847/2014. As a result, adoption of these standards is now a legal obligation for companies and NGOs operating in Ethiopia. Early readiness and having trained employees is a requirement to overcome challenges.
IFRS and IPSAS standards address these challenges by providing a high-quality, internationally recognized set of accounting standards that bring transparency, accountability, and efficiency to preparers and users of financial statements around the world.
At ASGB, we have experts in IFRS and IPSAS who have developed an in-depth knowledge specializing in these standards and their implications for the local markets. Our team is ready to support your business convert to IFRS and IPSAS and provide continuous assistance to prepare annual financial statements.
Our full IFRS, IFRS for SMEs, and IPSAS related services include:
- Conversion and implementation
- Financial due diligence service for IFRS based financial statements
- Audit of IFRS and IPSAS financial statements
- Training
- Preparation of annual statements in accordance with applicable financial reporting standards
What they’re talking about company
RTI International was the implementing partner for the USAID Power Africa East Africa Energy Program (EAEP) and worked with ASGB over two years to build capacity at the Ethiopian Electric Power (EEP) company as they implemented the International Financial Reporting Standard (IFRS). RTI and EAEP benefited from ASGB’s quality technical expertise and diligent communications on progress. With ASGB’s assistance, EEP successfully implemented the IFRS, significantly enhancing their financial reporting and compliance capabilities.
Our experience working with ASGB has been highly productive and collaborative. Their expertise and attention to detail have consistently ensured the accuracy and integrity of our financial reporting processes. We appreciate their thoroughness and professionalism, which have contributed to enhancing our overall financial governance.
Saint-Gobain Weber Ethiopia