IFRS in India - jb nagar cpe study circle of wirc of icai
IFRS in India - jb nagar cpe study circle of wirc of icai
IFRS in India - jb nagar cpe study circle of wirc of icai
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<strong>IFRS</strong> <strong>in</strong> <strong>India</strong> – Its Status, Overview <strong>of</strong> Concepts and Impact <strong>in</strong> <strong>India</strong>Key challenges - mitigation steps / management callsKey ChallengesVolatility due to fair valuationChange <strong>in</strong> IT systemsChange <strong>in</strong> MIS systemsMitigation steps / management callsSEC <strong>study</strong> states only 25% are total assets are fairvalued out <strong>of</strong> which for over 90% <strong>of</strong> the assetsreference price is readily available.Most IT packages are capable to respond to dualreport<strong>in</strong>g.The impact with respect to <strong>IFRS</strong> 8 is manageableTaxesSome implication on MAT.Manag<strong>in</strong>g market, <strong>in</strong>vestors and analystsEarly communication – Europe experienceRegulatory uncerta<strong>in</strong>ty Worst case scenario, additional cost for early do<strong>in</strong>g –Management to take decision based on corporatephilosophyRakesh Agarwal Slide 26
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