As you may be aware that the Ministry of Corporate Affairs (‘MCA’) notified Indian Accounting Standards (‘Ind AS’) in February 2015 thereby laying down the roadmap for all companies, except insurance companies, banking companies and non-banking finance companies, for adoption of Ind AS. Further, MCA notified amendments to Schedule III to the Companies Act, 2013 and inserted Division II- Ind AS Schedule III, which is a format of Financial Statements for companies that are required to comply with the Companies (Indian Accounting Standards) Rules, 2015.
In view of this, the Corporate Laws & Corporate Governance Committee of the Institute of Chartered Accountants of India decided to bring the Guidance Note on Division II- Ind AS Schedule III to the Companies Act 2013.
The Exposure Draft of the Guidance Note on Division II- Ind AS Schedule III to the Companies Act 2013 has been prepared and hosted on ICAI website.
The link of the Exposure Draft of the Guidance Note as has been hosted on ICAI website is- http://resource.cdn.icai.org/45175clcgc35239.pdf
We request you to please submit your comments/ suggestions on the same by 30th April, 2017 at the Email id- firstname.lastname@example.org