A fundamental decision management must make when preparing financial statements is whether to prepare them on a going concern basis. Under the going concern basis,…

In our previous two articles on audit trail, we discussed the amendments brought in by the Ministry of Corporate Affairs (MCA) to mandate the use…

Every year, minor amendments to the International Financial Reporting Standards (IFRS) are introduced by the International Accounting Standards Board (IASB) by way of annual improvements.…

In our previous article, the first of two installments on Audit Trail, we discussed the amendments brought in by the Ministry of Corporate Affairs (MCA)…

Recently, India became the first country to introduce reporting requirements on the ‘Audit Trail’ to improve transparency and integrity of the financial reporting process.

The International Accounting Standards Board (IASB) has issued amendments to Internal Accounting Standard (IAS) 8: Accounting Policies, Changes in Accounting Estimates and Errors. These amendments…

Globally, IFRS 17 replaced IFRS 4 as the primary accounting framework for insurance contracts. IFRS 4, introduced in 2004, was meant to be an interim…

On 11 February 2022, the Central Government notified amendments to Companies (Accounts) Rules, 2014. The amended Rules apply to companies required to undertake Corporate Social…

International Accounting Standards Board (IASB) has announced amendments to International Financial Reporting Standards (IFRS) which are applicable for reporting periods beginning on or after 1…