There is a global trend to migrate or homologate to a single standard the financial information of the companies. Such standards are regulated by the guidelines of the IFRS (International Financial Reporting Standards).
In Mexico, the Comisión Nacional Bancaria y de Valores (CNBV) announced that the issuers or public entities must submit their financial reports and apply the guidelines under IFRS effective year 2012, so that, they must perform the conversion process from NIF Mexicanas to IFRS. Although the above is extended to the rest of the companies in an optional way, it is considered as a good financial practice to do it that way.
Regarding the assets value, the IFRS requires to change the old “book value” of the fixed assets to a market value or “”fair value”, mainly supported by an appraisal report made by a company specialized in the area.
When applying the convergence of the assets to IFRS, you will get the following advantages:
Due to our coverage in different countries and our wide experience in the appraisal of assets under IFRS, we have already worked with international companies as well as with local companies in each country. This allows us understand the specific needs of our customers in these processes.
If you want to know more about TINSA and how we can help you and your business, please call (55) 5080 9078 or toll free 01 800 22 846 72. Also, via e-mail firstname.lastname@example.org and one of our executives will gladly help you to find a solution to your needs.