US GAAP conversion

One set of books, two readers

A Saudi entity reporting under SOCPA-endorsed IFRS for its own purposes often sits underneath a US parent, investor or lender that consolidates everything under US GAAP. Rather than running two full sets of books by hand, we reconcile the entity's IFRS figures to a US GAAP basis on a fixed schedule, so both readers get numbers they can actually use.

The mechanics of the reconciliation

The two frameworks are compared line by line, with the adjustments concentrated where they usually diverge most, revenue timing and lease treatment among them. Where the conversion is a first-time exercise, we also build the opening US GAAP balance sheet, and every adjustment gets written into a conversion memo explaining its basis rather than left as an unexplained number on a schedule.

Where this comes up fastest

A MISA-licensed subsidiary with a US parent or a US-based investor typically needs this the moment group consolidation starts, not once a funding round or an audit forces the question with no lead time left to answer it properly.

What we will not sign

We prepare the converted figures and the memo behind them. Any formal attest opinion on those numbers belongs to a licensed audit firm engaged separately, never to Finbryn, and a senior reviewer checks our own reconciliation before it goes out the door.