We examine some of the key changes that Ind AS application will have for companies relating to accounting for fixed assets. We also highlight the key differences and salient features of the COSO 2013 Framework for internal control with the earlier COSO 1992 framework. This month we also highlight the key impacts of the Companies Act, 2013 in the area of acceptance of deposits by companies. As is the case each month, we cover key regulatory developments during the recent past as well as examination of the concept of significant influence in an accounting context.
© 2016 KPMG, an Indian Registered Partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.