IFRS Convergence

In July 2014, the Finance Minister in his Budget speech proposed the adoption of the new Indian Accounting Standards (Ind AS – the converged IFRS standards) by Indian companies voluntarily from FY 2015-16 and mandatory from FY 2016-17.

The convergence with IFRS standards is set to change the landscape for FINANCIAL reporting in India. IFRS in India may significantly affect a company’s day-to-day operations and may even impact the reported profitability of the business itself. For a smooth transition, it is essential for companies to chalk out a clear-cut strategy and have the necessary preparedness regarding IFRS conversions. The challenges of transitioning to IFRS are immense, and the services of a specialist with domain experience in this sector can go a long way in achieving the desired results.

Whether companies are already reporting on IFRS, considering early adoption, or gradually converging as to IFRS, we can provide you with the expertise, manpower, and efficiency you need to be in a position of strength. Our team of professionals has experience in auditing IFRS statements, as well as preparing IFRS statements. We at Arhata are committed to help you converge to IFRS as smoothly as possible.


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