IFRS Notes aims to provide an update on key developments related to Ind AS and IFRS implementation in India.
IFRS Notes aims to provide an update on key developments related to Ind AS and IFRS
The Securities and Exchange Board of India (SEBI) on 30 November 2015, issued a circular (CIR/CFD/CMD/15/2015) which prescribed formats for listed companies publishing financial results as per the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The International Accounting Standards Board (IASB) is in the process of replacing the existing International Financial Reporting Standard (IFRS) 4
With Indian Accounting Standards (Ind AS) being applicable to large corporates from 1 April 2016, the Institute of Chartered Accountants of India (ICAI) on 11 January 2016 announced the formation of the Ind AS Transition Facilitation Group (ITFG) in order to provide clarifications on issues arising due to applicability and/or implementation of Ind AS under the Companies (Indian Accounting Standards) Rules, 2015 (Rules 2015).
The Securities and Exchange Board of India (SEBI), on 10 August 2016, issued a circular (the SEBI Circular) (CIR/IMD/DF1/69/2016) prescribing formats for the disclosure of half-yearly and annual financial results by entities that have listed their debt securities and/or non-cumulative redeemable preference shares (listed companies).