With the support of a major accounting firm, an international oil and gas company had developed a comprehensive IFRS policy document. The document, which consisted of more than 400 pages, contained interpretations of IFRS requirements. 

 Although technically correct, the document was too comprehensive for employees to apply in daily practice.  

   THE CHALLENGE

Although the IFRS policy document provided a comprehensive technical framework, it was not particularly helpful for employees in their day-to-day work. The documentation focused primarily on technical interpretation rather thanpractical application. Employees found it difficult to apply its content to day-to-day accounting decisions and rarely used it when processing transactions or preparing reports. 

As a result: 

• Employees were still uncertain about how to process specific transactions 

• The policy document was rarely used after its delivery 

• Group Finance frequently received interpretation questions 

• Knowledge remained concentrated within a limited number of specialists 

• Onboarding new staff required a significant amount of time and explanation. 

In short, the organisation had extensive documentation but limited practical adoption. 

   HOW WE HELPED

Fidugius helped the organisation bridge the gap between technical policy documentation and daily accounting practice. First, we analysed the existing IFRS policy document and identified the sections that needed to be translated intopractical accounting guidance. 

We then restructured and simplified the content so that employees could easily understand how the policies applied to real transactions. 

Important improvements included: 

• Rewriting the IFRS policies in clear, accessible language 

• Adding transaction-based examples based on the company’s operations 

• Defining standard booking procedures, including GL accounts and movement codes 

• Clarifying the structure and use of the chart of accounts 

All content was integrated into the Fidugius Accounting & Reporting Manual, a structured, searchable knowledge platform within the company’s own SharePoint environment.  

Finally, we provided key users with training so that the organisation could independently maintain and update the manual as policies and procedures develop.

   IMPACT & RESULTS

The organisation successfully transitioned from static documentation to the practical application of its accounting policies. 

The new framework resulted in: 

• Clear guidance for processing accounting transactions 

• A strong reduction in ad hoc questions to the Group Finance department 

• More consistent application of accounting policies across teams 

• Improved predictability and efficiency of reporting cycles 

• More effective onboarding of new finance employees 

Initially, the organisation relied on external experts. Now, thanks to the Accounting & Reporting Manual, they are able to produce their own consistent, independent reports on a large scale.