IFRS in India in the context of developing the profession

Verma, Shraddha and Krishnan, Sarada Rajeswari (2019) IFRS in India in the context of developing the profession. In: Weetman, Pauline and Tsalavoutas, Ioannis (eds.) The Routledge companion to accounting in emerging economies. Routledge companions . Routledge, London. ISBN 9780815356202

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Abstract

After many delays the phased implementation of International Financial Reporting Standards (IFRS) in India was scheduled to apply to accounting periods from 1 April 2019 onwards. Delays have been attributed to lack of preparedness, taxation and legislative issues raised by industry, unworkable deadlines and ambiguity. Delays have occurred despite the efforts of the professional body, ICAI, which has worked towards convergence with International Accounting Standards (IAS) and IFRS, and has played a significant role in influencing IAS/IFRS through ongoing negotiations with the International Accounting Standards Board. There is continued scope to research the role of the State and the activities of professional bodies in the challenges to achieve accounting convergence while preserving national identity.

Item Type: Book Section
Schools and Departments: School of Business, Management and Economics > Accounting and Finance
Depositing User: Sarada Krishnan
Date Deposited: 07 Oct 2019 16:38
Last Modified: 04 Nov 2019 10:11
URI: http://sro.sussex.ac.uk/id/eprint/86811

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