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Impact study concludes that adoption of Ind AS in India was a success

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06 Jul 2018

The Institute of Chartered Accountants of India (ICAI) has published 'Indian Accounting Standards (IFRS converged): Successful Implementation - Impact Analysis and Industry Experience'. The publication looks into how the adoption of Ind AS, which are based on and substantially converged with IFRSs, has impacted the quality of financial information of Indian companies.

In conclusion, ICAI believes that "Ind AS implementation has provided better insights into the financial affairs of the companies and Ind AS based financial statements reflect the underlying economics of the transactions/events in a transparent and unbiased manner. It has also improved the comparability and benchmarking of the financials of Indian Companies with Global Peers, thereby improving the accessibility of Indian Companies to Global Capital Markets".

Please click to access the full impact analysis (140 pages) on the ICAI website.

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