International Financial Reporting Standards (IFRS) continue to evolve as global markets become more integrated and financial reporting grows increasingly complex. For CPA firms in the UK and US, maintaining up-to-date IFRS expertise is essential yet challenging—especially when client expectations rise, regulatory scrutiny increases, and technical accounting requirements become more demanding. Outsourced IFRS support has become an efficient, strategic solution that allows CPA firms to expand capacity, access specialized knowledge, and deliver high-quality financial reporting services without expanding internal teams.
At Haraik, we provide end-to-end outsourced IFRS support tailored specifically for CPA firms in the United States and United Kingdom. Our services strengthen technical accounting delivery, enhance efficiency, and ensure your firm remains compliant with the latest international standards—all while reducing operational costs and enabling faster turnaround times.
1. The Growing Need for IFRS Expertise in UK & US CPA Firms
Even though IFRS is widely used across Europe, the Middle East, and Asia, UK and US firms increasingly work with clients who operate globally or report using IFRS for consolidation purposes. As businesses expand across borders, CPA firms face challenges including:
- Complex IFRS interpretations
- Multi-jurisdictional reporting requirements
- Cross-border consolidation under IFRS
- New and revised standards introduced by the IASB
- Sector-specific reporting challenges
For US CPA firms, IFRS knowledge is particularly essential for clients that prepare dual reports under US GAAP and IFRS, operate foreign subsidiaries, or plan cross-border M&A transactions.
For UK firms, IFRS reporting is deeply embedded, but the fast-changing nature of standards means technical accounting teams require continuous support.
Outsourcing IFRS work provides CPA firms with specialized resources to meet client expectations while maintaining quality and accuracy.
2. What Is Outsourced IFRS Support?
Outsourced IFRS support involves partnering with an accounting and technical advisory team that provides dedicated assistance in preparing IFRS deliverables, reviewing reports, drafting technical papers, and guiding clients through complex accounting treatments.
This model allows CPA firms to:
- Scale their workload during peak periods
- Access specialized IFRS professionals
- Reduce the cost of maintaining large in-house technical teams
- Deliver high-quality financial reports consistently
At Haraik, our outsourced IFRS services operate as an extension of your technical accounting team—supporting your partners, managers, and audit staff with expert guidance.
3. Key IFRS Outsourcing Services We Provide
We offer comprehensive IFRS technical support designed to fit the workflow of UK and US CPA firms. Our services include the following:
a. IFRS Technical Accounting Support
We assist with complex accounting treatments including:
- Business combinations and purchase price allocation (IFRS 3)
- Revenue recognition (IFRS 15)
- Financial instruments and impairment (IFRS 9)
- Leases (IFRS 16)
- Consolidation (IFRS 10, 11, and IAS 28)
- Share-based payments (IFRS 2)
- Property, plant, equipment, and revaluations (IAS 16)
- Right-of-use assets and lease liabilities
- Expected credit loss (ECL) calculations
Our technical team prepares clear, well-structured analysis to support your audit files and client advisory work.
b. IFRS Financial Statement Preparation
We prepare IFRS-compliant financial statements for:
- Subsidiaries and holding companies
- Consolidated group structures
- IFRS transition projects
- Annual and interim financial reporting
All deliverables follow IAS 1 requirements and incorporate industry-specific disclosures.
c. IFRS Position Papers & Accounting Memos
We develop technical papers that include:
- Background and scope
- Relevant IFRS references
- Technical analysis and alternative treatments
- Final recommended accounting treatment
- Impact assessment for financial statements
These documents enhance audit quality and support regulator-ready documentation for clients.
d. IFRS Conversion and Transition Projects
For companies shifting from local GAAP or US GAAP to IFRS, we provide full transition assistance including:
- First-time adoption (IFRS 1)
- Identification of required adjustments
- Preparation of reconciliations
- Disclosure drafting
- Conversion of opening balance sheets
CPA firms can outsource entire transition projects to ensure accuracy and compliance.
e. Audit Support Under IFRS
We support audit teams with:
- Technical clarifications during engagements
- Review of accounting treatments
- Disclosure optimization
- Documentation for complex areas
- Assistance with audit evidence and workpapers
This ensures efficient audit completion and reduced review points.
f. Continuous IFRS Updates and Training
We deliver IFRS training tailored to audit teams and client-facing staff. This includes updates on new standards, exposure drafts, and evolving guidance from the IASB.
4. Benefits of Outsourcing IFRS Support to Haraik
CPA firms gain several strategic advantages when partnering with us:
a. Cost-Effective Expertise
Building an in-house IFRS technical team is expensive and difficult. Outsourcing ensures access to experts at a fraction of the cost.
b. Scalable Staffing for Busy Seasons
During peak audit periods, CPA firms often struggle with resource shortages. Outsourced IFRS support offers instant scalability.
c. Faster Turnaround Times
Our team works across multiple time zones, providing extended-hour support for UK and US clients—ensuring quick delivery.
d. High-Quality Technical Output
Our IFRS specialists ensure every deliverable meets global standards, passes audit scrutiny, and adds real value to your engagements.
e. Reduced Risk of Non-Compliance
With continuous monitoring of new IFRS updates, we ensure your firm maintains regulatory readiness at all times.
f. End-to-End Confidentiality
We follow strict data protection protocols, NDAs, and secure workflows to protect all client information.
5. Who We Support
Our outsourced IFRS services support:
- Mid-sized CPA firms
- Large regional firms
- Boutique audit practices
- Advisory and consulting firms
- CFOs and in-house finance teams
Whether a firm needs ongoing support or project-based assistance, our solutions are flexible and scalable.
6. Why UK & US CPA Firms Choose Haraik
Our firm stands out because we combine:
- Deep IFRS expertise
- Strong knowledge of US GAAP and UK GAAP for crossover reporting
- Experience across industries including technology, real estate, energy, retail, and financial services
- A team of qualified professionals (ACCA, CA, ICAEW, CPA)
- Proven track record supporting international CPA firms
We act as a technical backbone—allowing firms to expand their services confidently.
7. The Future of Outsourced IFRS Support
As global finance grows more interconnected, the need for IFRS expertise will continue to rise. CPA firms embracing outsourced technical support gain stronger efficiency, increased profitability, and the ability to serve clients without resource limitations.
With Haraik as a trusted partner, UK and US CPA firms can enhance their technical capabilities, improve client outcomes, and focus on strategic growth while we manage the complexities of IFRS compliance and reporting.