« Professional Updates » Open DEMAT Account in 24 hrs  Expert Panel for addressing queries related to Statutory Audit pertaining to auditing aspects  Invitation for contribution to Question Bank in respect of Self-paced Online Module Examinations (Set-C & Set-D)  India to be Accounting and Finance Hub : Invitation for Comments/Suggestions: Consultation Paper on Draft IFSCA (Book-keeping, Accounting, Taxation and Financial Crime Compliance Services) Regulations 2024   Auditing and Assurance Standards Board - Online Panel of Experts for addressing Bank Branch Audit related queries  Board of Internal Audit and Management Accounting of ICAI is organizing Webinar on "Identifying Red Flags and Report Writing by Internal Auditors" - March 27,  Revised Applicability of Peer Review Mandate (Phase II & III)  Important Announcement - Reschedulement of Chartered Accountant Examinations, May 2024   IMPORTANT ANNOUNCEMENT  Extension of Last Date for Online Empanelment of Members to act as Observers for May/June 2024 Examinations up to 15th March 2024  Empanelment of Members to act as Observers at the Examination Centres for the Chartered Accountants Examinations May/June 2024  Guidance Note on Audit of Banks (2024 Edition) «  ICAI - Announcement... L&T posts 38% jump in Q4 net, declares bonus share issue... » ICAI council Approves Accounting Standard (AS) 32, May, 26th 2008 The Council of the Institute has approved Accounting Standard (AS) 32, Financial Instruments: Disclosures. The objective of this Accounting Standard is to require entities to provide disclosures in their financial statements to enable users to evaluate the following: the significance of financial instruments for the entitys financial position and performance; and the nature and extent of risks arising from financial instruments to which the entity is exposed during the period and at the end of the reporting period, and how the entity manages those risks. In view of the above, the Accounting Standard will bring about greater transparency in the disclosures related to financial instruments such as derivatives and the exposures to the risks related to such financial instruments and how the entity manages its risks. It may be noted that the Institute has already issued the related Accounting Standards, namely, Accounting Standard (AS) 30, Financial Instruments: Recognition and Measurement and Accounting Standard (AS) 31, Financial Instruments: Presentation. Issuance of this standard completes Accounting Standards on the subject of Financial Instruments. Like AS 30 and AS 31, the Council proposes to make AS 32 recommendatory from 1st April 2009 and mandatory from 1st April 2011.