IFRS convergence: Government announces roadmap for implementation of Ind AS

IFRS convergence: Government announces roadmap fo...

The new year heralds an important update; on 2 January 2015 the Ministry of Corporate Affairs issued a press release announcing a revised roadmap for implementation of Indian Accounting Standards (Ind AS), converged with International Financial Reporting Standards (IFRS).

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This roadmap is applicable to companies other than banking companies, insurance companies and non-banking finance companies.

This roadmap was developed after consultations with various stakeholders and regulators. It comes as a follow up to the announcement by the Finance Minister in his budget speech that Ind AS will be made mandatory from the financial year 2016-2017. In this issue of IFRS Notes we have provided an overview of the revised roadmap of implementation of Ind AS along with our points of view. In this issue of IFRS Notes we have provided an overview of the revised roadmap of implementation of Ind AS along with our points of view.

In this issue of IFRS Notes we have provided an overview of the revised roadmap of implementation of Ind AS along with our points of view.

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