International Financial Reporting Standards (IFRS) – Implementation at METRO GSC
30 July 2026Imagine companies from different countries preparing their financial results. Each operates under local regulations, each functions in a slightly different environment, and yet, at the end of the month, all the data must come together to create one consistent picture of the entire METRO Group. Sounds like assembling a massive puzzle? In many ways, that is exactly what working with International Financial Reporting Standards (IFRS) looks like.
At METRO GSC, this is part of everyday business. IFRS is not just a set of standards and guidelines. It is the way we connect local realities with global business needs. At the heart of it all are people, processes, and collaboration that bring everything together.
IFRS in SSC – A Common Language of Finance
The METRO Group has been operating in accordance with IFRS since the establishment of METRO GSC. However, as the standards themselves are principle-based, we have developed the IFRS Guidelines, which define the specific way METRO applies individual IFRS standards.
As a result, the same reporting principles apply regardless of the country. This ensures greater data consistency, easier consolidation of results, and the ability to make business decisions based on comparable information.
IFRS Implementation in Finance Is a Well-Structured Process
New standards do not appear overnight. Their implementation always begins with activities led by Group Accounting, which prepares countries for upcoming changes and organizes awareness and communication initiatives.
Within METRO GSC, coordination is managed by Process Owners. They maintain continuous contact with Group Accounting, translate new requirements into day-to-day processes, and support teams throughout the implementation of changes.
Thanks to this approach, IFRS implementation in finance is carried out in an organized manner, and all entities supported by us are properly prepared for new requirements.
The Biggest Challenge? Reconciling Two Worlds
At first glance, it may seem that if IFRS applies, everything should look exactly the same. In practice, the situation is far more complex.
Every country has its own accounting regulations, which in some areas differ from IFRS requirements. This means that the same business transaction may require one treatment for local reporting purposes and another from the Group’s perspective.
This is where the experience of our teams and carefully designed processes play a crucial role. Properly reflecting the same data across two reporting levels is not always as straightforward as it may seem.
Technology Supports METRO GSC Financial Reporting
At this scale of operations, it is difficult to imagine working without the right tools.
To consolidate data in accordance with IFRS, the METRO Group uses the Tagetik system. Every month, all companies submit their financial statements to the platform in line with the Group’s chart of items, designed to enable the publication of IFRS-compliant consolidated financial statements.
However, METRO GSC’s role does not end with submitting data. Our teams prepare the system for the month-end closing process, support users during reporting activities, and help resolve validation issues, which are sets of controls that verify whether data complies with Group requirements.
This is what ensures that METRO GSC financial reporting remains consistent, reliable, and ready for further consolidation.
Standards Evolve. We Evolve with Them.
The world of finance never stands still. New standards and updates are introduced regularly, which is why continuous competency development is a natural part of our teams’ work.
Depending on the scope of the changes, training sessions are delivered either by Group Accounting or by the Process Owner team. They translate new requirements into specific METRO GSC processes and guide teams through changes agreed upon with Group Accounting.
As a result, knowledge is quickly transferred to the people who use it every day, and every change is implemented consistently across all supported areas.
Why Does IFRS Matter for Technology as Well?
Changes in accounting standards often involve more than simply updating procedures. In some cases, they also require new technological solutions.
A good example is the implementation of IFRS 16. In such situations, the METRO Group may decide to acquire tools that enable new processes to be managed consistently across all countries.
METRO GSC actively participates in such projects, from training and implementation of new solutions to their day-to-day operation. As a result, accounting standards in the SSC environment contribute not only to reporting compliance but also to the development of processes and technologies that support the entire business.
Although IFRS is primarily associated with finance, it is, in reality, a foundation for global collaboration. Thanks to shared standards, data from different countries can be combined into one consistent picture, enabling the METRO Group to make informed business decisions. And every day, we contribute our part to making that happen.
