matter
KH Group needed to carry out a complex IFRS conversion in connection with its strategic change from investment company to conglomerate. The challenge was to adapt the reporting of four portfolio companies to IFRS standards – something that had never been done before in a similar group structure in Finland. The time pressure was high and the demands from the stock exchange were clear: quality, transparency and auditor approval.
Solution
NIS assembled an experienced project team in collaboration with IFRS specialist Backo to lead the conversion. Through close collaboration with KH Group’s finance department, the portfolio companies’ CFOs and the auditors, a structured transition to IFRS was ensured. The project was run efficiently with clear priorities, smart time management and high quality – which enabled approved reporting according to plan and created a sustainable foundation for the group’s continued financial management.
When KH Group (formerly Sievi Capital) was to transform from an investment company to a conglomerate, they needed to quickly ensure IFRS reporting for the entire group. NIS formed a project team together with the IFRS experts at Backo to lead the conversion and ensure quality, schedule and approval from auditors.
The project included five portfolio companies – only one was already IFRS-reported. Through close project management, effective communication and clear priorities, the change could be successfully implemented. The project provided KH Group not only with a functioning IFRS structure but also long-term guidelines for continued reporting and group governance
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KH Group
KH Group is a listed company with a focus on long-term value creation through the ownership and development of small to medium-sized companies.
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