We commence with the IFRS Blog today. The first post is already out, check it out at the following link: https://faoblog.com/ifrs/ifrs-introduction1
Continuing with the Transition write up, once you have had your introductory meeting, confirm from your client if he / she had an opportunity to go through the pre-work material that you had sent.
You should validate the calendar / sequence of activities. It is important to understand the availability of client resource availability for training. Quite often, the planners in the pre-work phase miss out adding some contingency to the time plan. They configure a full eight hour for the training. Your daily training time should not exceed fifty to seventy five percent of the total available time. The client may have something urgent come up, your team will need time to document and also train the offshore team. The more proactive you are, the better it is. Once your client has signed off on the plan calendar, you are good to commence your transition.
Coming back to the pre-work material, over the first few days, you should validate the pre-work material that you had built. Normally, in a large number of situations, the client will not have proactively validated the material. You should do it now. Split your transition team by function / process / sub-process. Get your team members to sit with their counterparts to validate the process flows, process steps and key exceptions and fail points.
Do not under estimate this step. Life will be a lot easier, once you have done this.
