Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Popular Search: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: TDS :: due date for vat payment :: VAT RATES :: cpt :: articles on VAT and GST in India :: ACCOUNTING STANDARD
  Advanced Integrated Course on Information Technology and Soft Skills (Advanced ICITSS)-Information Technology Test
 CPE Events 19th March - 24th March 2018
 Advertisement for Invitining Consultants to Work With ICAI Accounting Research Foundation on Research Projects (in Chennai)
 Question Bank on IBBI Limited Insolvency Examination
 Here's how you can fix it Made a mistake while filing tax returns?
 Government Nomination on the Bench II and Bench III of the Disciplinary Committee Bench II and III
 Stringent Action Against Adoption of Unfair Means
 Guidance Note on Audit of Banks 2018 edition issued by the Auditing and Assurance Standards Board
 Assessment Test of the Certificate Course on International Taxation organized by the Committee on International Taxation of ICAI -15th April, 2018 (Sunday)
 Advisory for the Members regarding Allocation of Work among the Joint Auditors in case of Bank Audits
  Group to Study the Amendments Proposed by the High Level Committee set up by the MCA

Panaji: Convergence with IFRS Conference Organized - ICAI
October, 14th 2008

The national conference organized by The Accounting Standards Board (ASB) of ICAI in association with Western India regional council of ICAI, with its Goa branch hosting the conference at a beach resort for three days from October 10, was inaugurated by M D Mallya, chairman and managing director of Bank of Baroda on Friday October 10.

Chairman ASB- ICAI C A Amarjit Chopra, chairman Accounting Standard ICAI-CA B M Agarwal, chairman WIRC of ICAI, C A Gautam Verlekar, chairman Goa branch of WIRC, Abbas Ali Mirza International Financial Centre Dubai, CA Dhiraj Khandelwal secretary WIRC, CA Atul Parikh, vice-chairman WIRC and Preeti Mahatme, Central Council Member ICAI.
At the press conference addressed by M D Mallya earlier, he mentioned that IFRS was going to be the common language for all the accounting standards for capital inflow, particularly for public limited companies.
C A Gautam Verlekar, chairman Goa branch of WIRC, also mentioned that all the chartered accountants would get the opportunity to upgrade themselves on IFRS in the coming months, as the Institute was keen that 1,48,000 chartered accountants should be ready with this to serve the financial institutions of India and their clients.
International Financial Centre Dubai and the Institute of Charted Accountants of India (ICAI), as the accounting standards formulating body in the country, have always been making efforts to formulate high quality accounting standards. The ICAI after considering the current economic environment has decided that IFRSs should be adopted for public interest entities, viz., listed entities, banks and insurance companies and large sized entities from the accounting periods commencing on or after April 1, 2011.
In its endeavour to bring convergence with IFRS, the institute has been organizing a series of programmes on IFRS across the country. He congratulated the Accounting Standards Board, the CPE Committee, the WIRC of ICAI and the Goa Branch of ICAI for taking this initiative.
C A  B M Agarwal chairman said that the three-day national workshop was intended to give the participants an overview of application of IFRS in India scenario, so as to equip them to be ready to face up to the changes going to take place in the coming years. The topics have been selected to understand those concepts of IFRS, which are new to the Indian scenario, and he expressed the confidence, that the members shall be immensely benefited by the deliberations made at the three day-conference.
The conference was about convergence with International Financial Reporting Standards (IFRS), issued by the International Accounting Standards Board (IASB), which has gained momentum in recent years all over the world.  More than 100 countries currently require or permit the use of, or have a policy of convergence with IFRS. Internationally, in so far as cross-border investments are concerned, a non-IFRS compliant country is perceived as an additional risk factor.  In this scenario, India being an important emerging economy in the world cannot stand isolated. Therefore, the Institute of Chartered Accountants of India (ICAI), the premier accounting body in the country, decided to converge with IFRS issued by the IASB for the public interest entities such as listed entities, banks and insurance entities and large-sized entities from the accounting periods commencing on or after April 1, 2011.  The ministry of corporate affairs, government of India, has also stated that India would converge with IFRS from April 1, 2011.
To implement this decision, the ICAI is taking various necessary steps, such as, formulation of Indian equivalent of IFRS at the earliest, launching IFRS 75-80 hours certificate level course to educate the concerned people about IFRS, holding seminars and other programmes on IFRS all over the country. In this direction, this conference held from October 10 to 12, 2008 provided the participants an opportunity to acquaint themselves and appreciate the nuances of the IFRS, which were discussed by the eminent speakers during the conference.


Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Publishing Management System PMS News Management System Publishing Management System Development Online News Management System for media company custom Publishing management system development Survey management system Market Res

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions