INDIA ACCOUNTING STANDARDS CONTROVERSY IAS APPLICATION
May 1st, 2006
BY RAGHAVENDRA VERMA, in New Delhi
"WE will expedite the adoption of accounting standards in alignment with the International Accounting Standards", said India's Prime Minister Manmohan Singh in a recent statement (18th March 06). With this, he cleared all doubt about his government's support for the adoption in India of global accounting norms. However, besides many legal and practical problems hindering their adoption, hostility to IAS amongst Indian chartered accountants continues to rage.
The overwhelming majority of Indian accountancy firms are ...
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