As you are kindly aware, the Ministry of Corporate Affairs (MCA) has placed the Indian Accounting Standards (Ind ASs) which are converged with International Financial Reporting Standards (IFRSs) on its website. Thereafter, certain new standards/amendments to the IAS/IFRS have been issued by the IASB. With a view to keep pace with the new IFRS/ revisions in IAS/IFRS, the Accounting Standards Board has brought out the following Exposure Drafts so that the revised Ind ASs may be finalised on timely basis with a view to provide these to the Government whenever required:
- Exposure Draft of the Amendments to Indian Accounting Standards (Corresponding to Annual Improvements to IFRSs 2011-13 Cycle) (Comments to be received by June 10, 2014)
- Exposure Draft of the Amendments to Indian Accounting Standards (Corresponding to Annual Improvements to IFRSs 2010-12 Cycle)(Comments to be received by June 10, 2014)
The text of the Exposure Drafts is available at the following links on the web-site of the Institute:
- http://220.227.161.86/
33407asb23025-2011.pdf
- http://220.227.161.86/
33406asb23025-2010.pdf
May we request you to kindly send your views and suggestions on the Exposure Drafts on or before the above mentioned dates, to the Secretary, Accounting Standards Board, The Institute of Chartered Accountants of India, ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi-110002. Comments can also be sent by e-mail at asb@icai.in or commentsasb@icai.in.
Thanking you,
Yours faithfully,
(Avinash Chander)
Secretary
Accounting Standards Board
