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The Ministry of Corporate Affairs had placed Ind-AS which are converged with 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 ICAI has issued exposure drafts of Ind-AS on the following topics for public comments:

  • Ind AS 1: Clarification of the requirements for comparative information
  • Ind AS 16: Classification of servicing equipment
  • Ind AS 32: Tax effect of distribution to holders of equity instruments
  • Ind AS 34: Interim financial reporting and segment information for total assets and liabilities
  • Ind AS 36: Recoverable Amount Disclosures for Non-Financial Assets
  • Ind AS 37: Appendix B-1 Levies
  • Ind AS 39: Novation of Derivatives and Continuation of Hedge Accounting

Last date for public comments for ED on Ind AS 39 is 21 February 2014. In all other cases, the last date is 17 February 2014.

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