Although there are efforts to set international standards for financial accounting, there are different regulations in nearly every country. It is of course mandatory to abide by these local regulations for your annual balance sheet.
Larger companies in particular often do the accounting within their corporate group in accordance with US-GAAP or IFRS in order to most easily consolidate their international operations.
InterGest has the ability to deal with both international and local standards, taking care of your financial accounting according to the requirements of your corporate group and of the local accounting regulations. To do two annual balance sheets for a client – e.g. one in accordance with IFRS and one according to local regulations – is a matter of daily business for us.