IFRS Balance Sheet Certification Process-Workflow

London - 18 March 2008

The CEO of Peach, a compliance, risk and change management company in the UK, today announced the release of a unique Balance Sheet Process-Workflow (BSPW) framework for IFRS (International Financial Reporting Standards) account certification requirements.

This solution operates in conjunction with Peach’s certification scheme for software application vendors, solution providers, banks and insurance institutions.
This framework will considerably help these entities with their IFRS compliance, governance and risk management challenges and avoid costly penalties.
Peach links its unique compliance maps and audit checklist templates with the above process framework in order to integrate specific workflows into any IFRS rulebook and compliance systems – regardless of type and vendor.

IFRS is an international requirement that requires corporate entities to report their financial affairs in a unified and standardised fashion to increase readability, transparency and integrity.
Accordingly, IFRS process workflows will be affected by and will affect Sarbanes-Oxley Act, MiFID (Markets in Financial Instruments Directive), Basel II Accord, Asset & Liability Management (ALM), Anti-Money Laundering (AML), and other related frameworks.
Instead of working in a silo, Peach solutions help auditors, compliance officers, banks, financial institutions and solution providers to cross reference IFRS to the other relevant frameworks for overlaps.

Peach enables such corporate entities integration of IFRS with other self-attestation audit questionnaire checklists and processes, to avoid costly duplication or triplication of information and implementation costs.

This solution and other solution of Peach are based on Dr Abe Abrahami’s 34 year-experience and know-how that have helped blue chip companies and government agencies to save or increase revenue by an estimated $300 million US dollars.
Peach solutions also incorporate essentials from Dr Abrahami’s book on Compliance & Change Management.

The Institute of Management Specialists and Ansted University accredit and validate Peach’s best-practice, proven and successful techniques and training courses.

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