AS, Ind AS and IFRS

With the emergence of Global Economy our national economy is integrating with global markets by spreading their exchange and business across the globe. India has adopted an approach of convergence with IFRS instead of adoption of IFRS.

Convergence with IFRS involves the application of significant judgments and estimates, convoyed with comprehensive quantitative and qualitative disclosures. Overall, it would lead to an enhanced presentation of the financial performance of an entity and more pertinent information to the users of financial statements.

Conversion from Indian GAAP to Ind AS is a strategic issue. This conversion requires a lengthy exercise and commitment. A carefully designed roadmap is essentially required for smooth and effective conversion to Ind AS.

We provide Ind AS consultancy to the business entities to ensure that they maximize the benefits, address the challenges of Ind AS conversion and minimize the obstacles.