IFRS Implementation Services
IFRS-format reporting packages, Ind AS–IFRS reconciliations and first-time IFRS adoption support for Indian companies reporting into a foreign parent, raising capital abroad, or presenting financials to international stakeholders.
India has not adopted IFRS directly — Indian companies report under Indian Accounting Standards (Ind AS), which are substantially converged with IFRS but retain specific carve-outs and presentation differences. Full IFRS reporting still becomes necessary for Indian entities that are subsidiaries of a foreign parent consolidating under IFRS, companies raising funds through overseas listings or GDRs, or businesses that voluntarily prepare IFRS financials for global investors and lenders. The Classic Partners LLP prepares IFRS reporting packages and Ind AS-to-IFRS bridge reconciliations that identify and adjust for every carve-out difference, so your group consolidation is accurate and audit-ready.
Reporting packages your overseas parent's auditor will accept
When your Indian entity's numbers feed into a global consolidation, "close enough" isn't good enough — every Ind AS/IFRS difference has to be identified, quantified and adjusted, on a schedule that matches your parent's group reporting calendar, not just the Indian statutory deadline.
We prepare the IFRS reporting package from your Ind AS or Indian GAAP financials, reconcile every material difference, and support first-time IFRS adoption where your entity is preparing IFRS financial statements for the first time — for a listing, fundraise or group restructuring.
- Ind AS / Indian GAAP to IFRS bridge reconciliation
- Group reporting packages on your parent's format and calendar
- First-time IFRS adoption (IFRS 1) support
- Carve-out and presentation difference analysis
- Support for overseas listing / GDR / fundraise financials
- Coordination with group auditors during consolidation
When an Indian entity needs IFRS, not just Ind AS
Ind AS is your statutory filing standard in India — IFRS becomes relevant for a specific, additional reporting need.
| Situation | Why IFRS is needed | What we deliver |
|---|---|---|
| Subsidiary of foreign parent | Parent consolidates globally under IFRS and needs the Indian entity's numbers in that format | Monthly/quarterly IFRS reporting package |
| Overseas listing / GDR | Foreign stock exchanges typically require IFRS or US GAAP financial statements | First-time IFRS financial statements |
| International investors/lenders | Global stakeholders often expect IFRS-comparable disclosures | Ind AS–IFRS reconciliation notes |
| Group restructuring / M&A | Cross-border acquirers need target financials on a comparable basis | Due-diligence-ready IFRS bridge |
What our IFRS implementation covers
Structured around IFRS 1 (first-time adoption) and the specific Ind AS carve-outs from IFRS.
Difference Analysis
Identification of every area where Ind AS carve-outs or India-specific practice diverge from full IFRS.
Bridge Reconciliation
Line-by-line reconciliation between your Ind AS financials and the IFRS reporting package.
First-Time IFRS Adoption
IFRS 1 opening balance sheet and exemption analysis where a full first-time IFRS transition is required.
Group Reporting Packages
Recurring reporting packages formatted to your parent company's group chart of accounts and calendar.
Due-Diligence Support
IFRS-comparable financials prepared for cross-border M&A or fundraise due diligence.
Auditor Coordination
Direct coordination with your group's IFRS auditors during consolidation and year-end close.
Our four-stage IFRS process
Built to run alongside your Ind AS statutory close, not replace it.
Scoping
Understand your parent's reporting format, calendar and the specific trigger — listing, consolidation or fundraise.
Difference mapping
Identify every Ind AS–IFRS carve-out relevant to your business and quantify the adjustment required.
Package preparation
Build the IFRS reporting package or first-time adoption financials with full reconciliation notes.
Review & handover
Coordinate with group/statutory auditors and hand over a repeatable process for future reporting cycles.
IFRS reporting that survives group audit scrutiny
Partner-led, fixed-fee and built to plug directly into your parent's consolidation process.
Carve-out precision
We know exactly where Ind AS diverges from IFRS and adjust for it — not a generic conversion template.
Fixed fee, written upfront
Scoping call, then a written quote for the full package, whether one-time or recurring.
Calendar-matched delivery
Reporting packages delivered on your parent's group close calendar, not just the Indian statutory timeline.
Direct auditor coordination
We liaise directly with your group's IFRS auditors to resolve queries during consolidation.
Repeatable process
Recurring reporting is built as a documented, repeatable process — not redone from scratch each cycle.
One firm, all compliance
Works alongside our Ind AS implementation and statutory audit practices.
IFRS questions Indian subsidiaries ask us
Straight answers before you commission an IFRS reporting package.
Ready to set up your IFRS reporting?
Tell us your parent's reporting format and calendar. You'll get a fixed quote and a partner-level contact within one working day.
