INTERNATIONAL FINANCIAL REPORTING STANDARDS

Sebi will soon offer listed companies the option of switching over to the International Financial Reporting Standards for improved corporate governance, but is yet to take a decision on allowing quarterly audits, due to stiff opposition from companies themselves. Full Article

It is not just Indian accounting standards, which would converge fully with the International Financial Reporting Standards by 2011, but cost accounting standards, would also need to be in tune with the global model. The Institute of Cost and Works Accountants of India, the apex body to regulate the profession of cost accountants, is working out the [...] Full Article

The Nasdaq-listed Corporate Executive Board (CEB), a business advisory platform, has come up with an online resource — IFRSPortal.in — to help Indian companies make a smooth transition to International Financial Reporting Standards (IFRS) at lower costs. Through the portal, companies can access the CEB’s practical guidance, best practices research, execution tools and benchmarks to [...] Full Article

Plans are afoot to make International Financial Reporting Standards (IFRS) mandatory for large-scale companies by April 2011, said K Raju, central council member of the Institute of Chartered Accountants of India (ICAI). Inaugurating an investor’s awareness programme organized by Mangalore chapter of ICAI in association with Kanara Chamber of Commerce and Industry (KCCI) here on [...] Full Article

The recent planning and initiative of the Institute of Chartered Accountants of India (ICAI) are now directed to make India as a destination for accounting as well as auditing services. Apart from converging with the international financial reporting standards (IFRS) by April 1, 2011, it is now planning to convergence with the international auditing standards. Full Article

The International Financial Reporting Standards (IFRS) issued by International Accounting Standards Board (IASB) are gaining recognition as Global Reporting Standards. The Council of the Institute of Chartered Accountants of India, while appreciating the emerging diversities and complexities in the world of accounting and the need for knowledge of IFRS in relation to the convergence of the Indian accounting Standards with IFRS, has decided to launch a Certificate Course .. Full Article

India's apex accounting standards body is convinced that 80 hours is all it will take for the country's accountants to learn the nuances of an international standard that could soon become the way the world writes its books. Full Article