What is the standard way of doing things when trying to reconciliate and adjust financial statements in different GAAPs? In terms of how do you do it?
Do you ask a local accounting firm / to produce IFRS/US GAAP based statements? Do you go to Big 4 so that they use their network and produce required financials for you?
It is a practical question, I would appreciate an example project sequence, with whom you talk, how long it can take, etc..
What happens after merger is also a question - does, say a local subsidiary, produce two sets of reporting - one is for consolidation (US GAAP/IFRS based) and the other one for local reporting (Local GAAP)?
Thanks.
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