Studio Cappietti & Partners
Via Vittorio Veneto, 69 (AR) 52100
+39 0575 907 007 (AR)
Corso Vittorio Emanuele II, 326 (RM) 00186
+39 06 3227987 (RM)
OIC to IFRS Conversion & International Financial Reporting
In today's interconnected business environment, transparent, accurate, and internationally comparable financial information is essential for companies expanding beyond national borders, attracting international investors, or operating within multinational groups.
Studio Cappietti provides comprehensive advisory and technical accounting support for the conversion of financial statements from Italian Accounting Standards (OIC) to International Financial Reporting Standards (IFRS). Studio Cappietti & Partners guides Italian companies through every stage of the conversion. We combine deep knowledge of Italian accounting and tax rules with hands-on IFRS expertise, delivering financial reporting that is accurate, defensible, and ready for global scrutiny.
From first-time IFRS adoption to ongoing financial reporting, preparation of financial statements, and international audit coordination, we help businesses navigate complex accounting requirements with precision, efficiency, and confidence.
Our Services:
01. OIC to IFRS Conversion & First-Time Adoption
02. IFRS Financial Statements & Disclosures
03. IFRS Adjustments & Technical Accounting Support
04. PCAOB Audit Support & International Coordination
05. International Reporting & Stakeholder Coordination
01. OIC to IFRS Conversion & First-Time Adoption
We provide end-to-end assistance with the transition from Italian Accounting Standards (OIC) to IFRS, ensuring a structured and transparent conversion process in accordance with IFRS 1 – First-time Adoption of International Financial Reporting Standards.
Our services include:
- Assessment of differences between OIC and IFRS accounting treatments.
- Assistance with the selection of IFRS accounting policies and evaluation of applicable IFRS 1 exemptions and mandatory exceptions.
- Preparation of the opening IFRS statement of financial position and comparative financial information.
- Identification, calculation, and documentation of IFRS conversion adjustments.
- Preparation of reconciliations between OIC and IFRS financial information.
- Evaluation of the financial reporting implications of first-time IFRS adoption.
02. IFRS Financial Statements & Disclosures
We assist companies in preparing complete IFRS financial statements, including the relevant disclosures and comparative financial information, in accordance with applicable international reporting requirements.
Our services include:
- Preparation of IFRS statements of financial position, profit or loss and other comprehensive income, changes in equity, and cash flows.
- Preparation of comprehensive notes to the financial statements, including significant accounting policies and required disclosures.
- Preparation of first-time adoption disclosures in accordance with IFRS 1.
- Preparation of comparative financial information and supporting financial schedules.
- Ongoing assistance with IFRS financial reporting for subsequent accounting periods.
Our support extends beyond the initial transition, helping companies maintain consistent, transparent, and reliable IFRS financial reporting year after year.
03. IFRS Adjustments & Technical Accounting Support
We identify, calculate, and document the adjustments required to convert OIC-based financial information into IFRS-compliant financial statements.
Our work covers complex accounting areas, including:
- Revenue recognition and contract accounting (IFRS 15).
- Lease accounting (IFRS 16).
- Financial instruments and impairment of financial assets (IFRS 9).
- Provisions and contingent liabilities (IAS 37).
- Employee benefits and related obligations (IAS 19).
- Impairment of non-financial assets (IAS 36).
- Deferred taxation and temporary differences (IAS 12).
- Accruals, prepayments, and accounting period adjustments.
- Other applicable IFRS recognition, measurement, presentation, and disclosure requirements.
Each adjustment is supported by appropriate accounting analyses, reconciliation schedules, and detailed working papers, ensuring transparency, accuracy, and a clear audit trail.
04. PCAOB Audit Support & International Coordination
Connecting Italian Financial Reporting with International Audit Requirements.
Studio Cappietti provides dedicated financial reporting, documentation, and coordination support to Italian companies belonging to international groups, including Nasdaq-listed groups, whose financial information may be subject to audits conducted in accordance with Public Company Accounting Oversight Board (PCAOB) standards.
We facilitate effective coordination between Italian management, local accounting teams, foreign parent companies, group finance departments, and international external auditors.
Our services include:
- Preparation of financial reporting schedules, accounting reconciliations, and supporting working papers required during the audit process.
- Collection, organization, and preparation of accounting records and documentary evidence supporting financial statement balances and transactions.
- Assistance with group reporting packages and financial information requested by foreign parent companies.
- Preparation of technical accounting explanations and responses to audit inquiries.
- Coordination of audit documentation requests, submissions, and follow-up procedures.
- Reconciliation of Italian statutory accounting records with international reporting requirements.
- Facilitation of communication between Italian companies, international finance teams, and external auditors.
We act as a reliable link between Italian businesses and international stakeholders, helping ensure efficient communication, timely documentation, and a well-coordinated audit process.
Our services relate to audit preparation, financial reporting assistance, and audit coordination. We do not perform PCAOB audits or issue audit opinions as part of these services.
05. International Reporting & Stakeholder Coordination
We facilitate communication and coordination between Italian companies and international stakeholders, helping bridge differences in accounting frameworks, reporting practices, and financial information requirements.
Our support includes:
- Coordination with foreign parent companies and international finance departments.
- Preparation of financial information and accounting explanations for international stakeholders.
- Assistance with group reporting requirements and consolidation packages.
- Support in responding to technical accounting and financial reporting inquiries.
- Assistance with the preparation of documentation required for cross-border financial reporting.
Why Choose Studio Cappietti?
More Than IFRS Conversion. A Complete International Reporting Solution.
We combine expertise in Italian accounting practices with knowledge of international financial reporting requirements to provide practical, tailored solutions for companies operating in complex financial environments.
Our approach focuses on:
- End-to-End Support: From initial OIC-to-IFRS conversion to ongoing financial reporting and audit coordination.
- Technical Accounting Expertise: Detailed accounting analyses, accurate conversion adjustments, and comprehensive IFRS disclosures.
- Audit-Ready Documentation: Structured working papers, reconciliations, and supporting evidence designed to facilitate external audit procedures.
- International Coordination: Effective communication between Italian businesses, foreign parent companies, and international audit teams.
- Continuity & Reliability: Consistent assistance throughout the first-time adoption process and subsequent reporting periods.
From Italian Accounting to Global Financial Reporting
Whether your company is adopting IFRS for the first time, preparing financial statements for an international parent company, or coordinating financial reporting and documentation for a PCAOB-standard audit, Studio Cappietti provides the expertise and dedicated support needed to navigate international accounting and reporting requirements.
We help transform complex accounting obligations into clear, reliable, and internationally comparable financial information.
From Italian Accounting Standards to Global Financial Reporting.
Whether your company is adopting IFRS for the first time, preparing financial statements for an international parent company, or coordinating documentation and financial reporting for an audit conducted under PCAOB standards, Studio Cappietti provides dedicated technical expertise and reliable support throughout the process.
We help businesses navigate international accounting complexities and deliver transparent, consistent, and internationally comparable financial information.
From OIC to IFRS. From Local Requirements to International Expectations.
Contact Studio Cappietti to discover how our IFRS conversion, financial reporting, and international audit coordination services can support your business.