EffortlessTransformation
EffortlessTransformation
Navigate Complexities
Expanding a business internationally is an exciting and ambitious endeavor that can lead to significant growth opportunities. However, it comes with its own set of complexities, one of which is the need to switch financial reporting frameworks.
ASPE is a Canadian standard, and foreign stakeholders typically want to see financial statements using IFRS or US GAAP in the United States. Reporting conclusions made under one framework does not have a linear corresponding conclusion in the other framework. A business seeking to change their reporting framework involves hiring a third-party consultant that may not understand the diverse cultural and operational needs of the business.
Vica Innovations takes the pain out of the financial reporting transitions. What once cost companies expanding into foreign markets countless months of expensive third-party work can now be affordably done in a few short weeks.
Efficient and Accurate
Moving between the various financial reporting frameworks is not a simple task for a growing business. This transition is not merely a change in accounting practices but a multifaceted challenge that demands meticulous planning, accuracy, and substantial time and financial resources.
Vica Innovations simplifies the financial reporting transition process. Our AI based technology maps the differences between the two frameworks and automates the reporting transition process. Once complete, our in-house accountants (human-in-the-loop) will interpret the data for its accuracy and then apply strategic insights to the best course of action for a subscriber.
TEAM
Ivan Kapustin
Chief Executive Officer
Ivan is a seasoned financial reporting leader with decades of experience in the international investment environment. His years of working in multinational corporations and with the Big 4 global accounting firms allowed him to gain hands-on experience in the financial reporting framework transition arena. He transitioned numerous businesses from eastern European and Eurasian financial reporting standards to US GAAP and IFRS.
Ivan holds a Bachelor of Economics and completed his Master of Business Administration. Ivan is also a Chartered Certified Accountant. Due to his extensive experience and long-term commitment to professionalism and ethics, Ivan achieved the highest standard in the industry as a Fellow Chartered Certified Accountant.
