18.01.2016

Banking

Roadmap drawn up for converging Ind AS with IFRS

MANU/PIBU/0081/2016

In consultation with the Reserve Bank of India, Insurance Regulatory and Development Authority and Pension Fund Regulatory and Development Authority, a roadmap has been formulated converging Indian Accounting Standards with International Financial Reporting Standards. Under the proposals, various financial institutions would be required to prepare financial statements on the Indian Accounting System beginning 1 April, 2018.

Tags : Accounting standards ifrs roadmap 2018

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