Ind AS/ IFRS Consultation

Bringing global experts and local knowledge to your accounting environment

The Indian Accounting Standards also known as Ind AS and are structured in line with the International Financial Reporting Standards (IFRS). The nomenclature for the naming and numbering of Ind AS is same as that of IFRS.

In India, Ministry of Corporate Affairs (MCA) had notified phase-wise convergence of Indian Standards with IFRS which are known as Indian Accounting Standard (Ind AS). These standards have become effective from financial year 2016-17 and in Phase I, were applicable to all listed companies and companies having net worth exceeding Rs.500 crores and by Phase II it was applicable to companies having net worth exceeding Rs.250 crores.

With Ind AS compliance being mandatory for specified companies, for companies operating in India need to prepare for Ind AS implementation. Businesses should firstly develop an outline of how the new standards will replace existing ones, and then look to embed Ind AS into their operational systems, train their financial teams, and ensure all company managers understand the new accounting principles.

We have the experience of working on Ind AS conversion of more than 20 companies

How we can help:

  • Ind AS adoption:
  • Assistance in analysis of difference between Indian GAAP (generally accepted accounting principles)and Ind AS
  • Assistance in identifying / deciding new policies / procedures required to be implemented of under Ind AS
  • Assistance in implementation of identified changes for convergence to Ind AS
  • Training your staff on key Ind AS concepts and requirements
  • Assistance in compilation of financial statements under Ind AS
  • Ind AS consultancy on technical issues

What We can Deliver:

  • Well experienced and skilled professional staff with proven project management skills
  • International orientation and best practices with respect to financial reporting
  • Local and global financial reporting servicing capabilities as out Professional have Big four experiences
  • Utmost emphasis on confidentiality of your financial and other strategic information
  • Process orientation with emphasis on well-defined and documented procedures