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 President's Message - May 2017
 Commencement of the Next Batch of the Certificate Course on Wealth Management and Financial Planning to be commenced on 3rd June, 2017 at Chennai : An initiative of CCBMP, ICAI
 Commencement of the Next Batch of the Certificate Course on Wealth Management and Financial Planning to be commenced on 8th July, 2017 at Kolkata : An initiative of CCBMP, ICAI
 Group to look into the intricacies involvced in areas pertaining to the Disciplinary Mechanism
 Exposure Draft of Amendments to Ind AS 101, First-time Adoption of Indian Accounting Standards
  Requirements for passing Information Systems Audit (Assessment Test)
  Exposure Draft of Clarifications to Ind AS 115, Revenue from Contracts with Customers
 Exposure Draft of Clarifications to Ind AS 115, Revenue from Contracts with Customers
 Exposure Draft of Clarifications to Ind AS 115, Revenue from Contracts with Customers
 Reconstitution of Group to study the existing norms for the appointments/re-appointments of statutory / internal auditors
 Reconstitution of Group to study and suggest changes in the Guidelines relating to Networking of CA Firms

ICAI working on changes to Indian Accounting Standards
October, 09th 2014

The apex body of chartered accountants ICAI is in the process of making changes to the Indian accounting standards as part of efforts to converge with international norms.

The government wants companies to adopt the new Indian Accounting Standards (Ind AS) - converged with IFRS - voluntarily start from the 2015-16 fiscal and it would be mandatory from 2016-17.

The council of the Institute of Chartered Accountants of India has so far finalised seven "new/revised Ind ASs (to replace the exiting Ind AS) alongwith certain amendments to other Ind ASs".

The proposed changes correspond to the new/revised IFRS issued by the International Accounting Standards Board ( IASB).

Among the finalised Ind ASs include those related to consolidated financial statements, fair value measurement and employee benefits.

"These new/revised Ind ASs are being submitted to the recently constituted National Advisory Committee on Accounting Standards ( NACAS) for its consideration," ICAI President K Raghu said in a statement today.

Meanwhile, ICAI's Accounting Standards Board has issued exposure drafts of three new Ind ASs pertaining to agriculture, financial instruments and revenue from contracts with customers.

 
 
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