KOLON BENIT Launches IFRS 18 Accounting Solution

Дата публикации: 08-07-2026 08:35:39

KOLON BENIT announced on July 6 that it has launched BENIT SIGMA Pro, a next-generation consolidated accounting solution designed to help companies prepare for the implementation of International Financial Reporting Standard (IFRS) 18, which is scheduled to take effect next year.BENIT SIGMA Pro is t

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KOLON BENIT announced on July 6 that it has launched BENIT SIGMA Pro, a next-generation consolidated accounting solution designed to help companies prepare for the implementation of International Financial Reporting Standard (IFRS) 18, which is scheduled to take effect next year.

BENIT SIGMA Pro is the next-generation version of the company's proprietary consolidated accounting solution, BENIT SIGMA, which has been adopted by more than 100 companies since its launch in 2009. The new platform builds on continuous functional enhancements and performance improvements made since a major upgrade in 2015.

The solution is designed to help companies modernize consolidated financial closing and financial disclosure processes by supporting IFRS 18 compliance, strengthening consolidation controls and automating disclosure preparation.

In particular, the platform reflects practical changes introduced under IFRS 18, including the requirement to classify income and expenses into operating, investing and financing categories in the statement of profit or loss, a revised definition of operating profit, and new disclosure requirements for management-defined performance measures (MPMs).

It also supports proactive preparation for the transition by enabling customers to restate comparative financial statements, a requirement when IFRS 18 is first adopted.

Among its key features is IFRS 18 Dual Report, which allows users to prepare financial statements under both existing accounting standards and IFRS 18 simultaneously, enabling side-by-side comparison of changes in profit structures and financial statement presentation resulting from the new standard.

The solution also includes a module that supports management-defined performance measures (MPMs), helping companies comply with the new disclosure framework required under IFRS 18.

KOLON BENIT has also strengthened consolidation and internal control capabilities. The platform applies control procedures throughout data preparation, adjustment and verification processes to reduce human error while providing audit trail functionality to track changes. Once verified, consolidated financial statements and notes can be automatically converted into DSD files for submission through South Korea's Data Analysis, Retrieval and Transfer System (DART), allowing the entire reporting process to be completed within the system.

From a performance standpoint, BENIT SIGMA Pro improves processing speeds for large volumes of intercompany transaction data. It also enhances usability through expanded business analytics capabilities and an improved user interface and user experience (UI/UX). In addition to supporting integration with both SAP and non-SAP enterprise resource planning (ERP) systems, the solution offers officially supported versions for both Amazon Web Services (AWS) and Microsoft Azure, enabling continuous software updates and feature enhancements while supporting deployment in both on-premises and cloud environments.

Jung Joo-young, vice president of KOLON BENIT, said BENIT SIGMA Pro will help improve the efficiency and accuracy of corporate financial closing by supporting IFRS 18 compliance, internal controls and automated disclosures. He added that the company plans to continue expanding the platform's technology foundation for future artificial intelligence (AI)-based capabilities while further advancing automation for consolidated accounting and financial disclosure to support customers' digital transformation and business innovation.

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