Given the resource constraints, how should smaller public companies address the implementation needs economically and effectively?
All companies should implement IFRS in a way that makes sense for their organization. For smaller organizations, the assessment phase is crucial. During a thorough assessment phase, you can evaluate cost/benefit tradeoffs carefully. You might find that there are benefits even for you. For example, a small multinational may be able to in-source statutory reporting, thereby offsetting some of the implementation costs and reducing long-term costs. Could you explain in greater detail the need for integration of applications? Are you referring to the ability of applications to interact with each other? How is it different than the existing integration? Systems will need to pass IFRS-relevant data across landscapes. To the extent that a flexible middleware solution or ERP (Enterprise Resource Planning) exists, this should not change existing integration. To the extent that custom integration exists using bespoke tools, you may need to change the integration. Could you give an example of what
