Friday, January 8, 2010

Many existing Indian accounting standards will be modified to ensure conformity with the equivalent IFRS

IFRS convergence issues

Studying the IFRS (International Financial Reporting Standards) scene, Jamil Khatri, Head of Accounting Advisory Services, KPMG, feels that the most expected policy development in the coming year will be the issuance of new converged Indian accounting standards by the ICAI (Institute of Chartered Accountants of India).

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