• Impact assessments

Accounting requirements are constantly changing. At times, businesses and organisations may find they are subject to new accounting treatments or entirely new frameworks.

Half the battle for many organisations is often simply knowing where to begin and how to plan for these changes.

This is where BDO’s IFRS Advisory team can help.

In drawing upon our vast experience across multiple industries and clients, we are suitably placed to assist organisations in making sense of the change requirements in play, and devising the roll-out of planning and implementation strategies

BDO is able to customise the delivery of these services so that they align with the specific needs of an organisation. Ordinarily, our service offerings will typically take one of the following broad approaches:

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‘BDO Delivered’

Delivery of a full end-to-end impact assessment solution, including:

  • Undertaking and documenting change requirement assessments.
  • Establishing an implementation plan for the entity.
  • Project managing the implementation plan’s roll out.

Allows an organisation to focus time and resources on the business’ or organisations day-to-day operations.

Employs technical expertise at all stages of an entity’s impact assessment.

Ensures synergies and learnings acquired at each change requirements and planning and implementation phase are carried over and are not lost.

More cost-effective use of external experts.

‘BDO Managed’

Mid-level approach where project components are shared or split:

  • Organisation and BDO perform the initial analysis together.
  • BDO then documents the application issues.
  • The organisation and BDO establish and roll out the implementation plan.

Provides the organisation with more operation oversight to the impact assessment.

Mitigates time and resources taken away from an organisation's day-to-day.

BDO involved to some degree at all stages.

Medium cost option that still involves a modest degree of technical expertise.

‘BDO Guided’

Lower-level option where BDO is involved at the back-end of the impact assessment:

  • Organisation performs the initial analysis.
  • The organisation and BDO document the application issues.

The organisation and BDO establish and roll out the implementation plan.

Entity drives and is invested in the initial setup of the impact assessment.

BDO on-hand to ensure application issues are accurately and thoroughly documented.

BDO jointly involved in the later stages, where additional issues can be addressed as they arise.

Lower cost option where technical expertise is focused at the back-end.

‘BDO Assessed’

Initial scoping option where BDO is involved at the front-end of the impact assessment:

  • BDO performs the initial analysis, and documents the application issues.
  • Organisation establishes and rolls out its own implementation plan.

Allows an organisation to focus time and resources on its day-to-day during the initial analysis phases.

Technical expertise engaged early on, so any issues can be addressed proactively.

Low cost option where technical expertise is focused at the front-end.

BDO is still able to be engaged at the back-end in a general consultation capacity as and when required.

Areas where we typically engaged by organisations for impact assessments include:

New accounting standards

  • NZ IFRS 9 Financial Instruments
  • NZ IFRS 15 Revenue from Contracts with Customers
  • NZ IFRS 16 Leases                                                                                                             


Accounting framework transition

  • For-profit organisations: Moving from Special Purpose reporting to NZ IFRS reporting (Tier 1 and 2)
  • Public benefit entities: Moving from cash/accrual reporting (Tier 3 and 4) to NZ IPSAS reporting (Tier 1 and 2)

If you feel that these services would be a positive addition to your organisation, contact a BDO adviser today.