INDIA’S MOVE TOWARDS IFRS COULD BEING LONG-TERM INVESTMENT GROWTH
April 1st, 2016
While the big Indian corporations finally converge their accounts to International Financial Reporting Standards (IFRS), the government has moved ahead with the phased adoption of these standards by the country’s financial institutions. This measure could enhance foreign investor confidence in Indian companies and boost economic growth. Banking, financial and insurance companies “would be required to prepare ‘Ind AS’ [the Indian version of IFRS] based financial statements for accounting periods beginning from April 1, 2018 onwards, with comparatives for ...
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