Dear Professional Colleagues,

A warm Greeting from the Ind AS (IFRS) Implementation Committee of ICAI

As you may kindly be aware that the Institute of Chartered Accountants of India (ICAI) had formulated IFRS-converged Indian Accounting Standards (Ind AS), which have been notified by theMinistry of Corporate Affairs (MCA). In order to ensure the implementation of these Standards in the same spirit in which these have been formulated, this task of providing guidance has been entrusted to Ind AS (IFRS) Implementation Committee is taking various initiatives.

A number of issues are constantly being faced by the SMPs and companies in the implementation of Ind AS.  In view of this, it has been decided to launch a “Support-desk for implementation of Ind AS”,   so as to address the difficulties faced by the members and stakeholders as early as possible. For this purpose, we have created a a support desk, wherein the members can submit their queries, questions, suggestions online by clicking on the below-mentioned link: Support-desk for implementation of Ind AS

Alternatively, you may send your views by e-mail at    indas@icai.in.

The various other initiatives of the Committee are:

Issues Educational Materials on Ind AS containing Frequently Asked Questions (FAQs) that are expected to be encountered while implementing the standards

Ind AS Transition Facilitation Group (ITFG) has also been constituted for providing clarifications on timely basis on various issues related to the applicability and /or implementation of Ind AS under the Companies (Indian Accounting Standards) Rules, 2015, raised by preparers, users and other stakeholders. So far the group has issued four clarification bulletins addressing various queries.

Organises One/two days Awareness programmes on Ind AS

Conducting In-house training programme on Ind AS for corporates and other organisations that are transitioning to Ind AS.

On-field training programme/Workshop on Ind AS for officials of companies  to facilitate smooth transitioning to Ind AS

Recruiting resource persons on Ind AS.

We also have a good  database of resource persons having knowledge on IFRS/Ind AS. In case, there is need of Ind AS resource persons, we may assist you in recruiting the resources in your organisation. We can also assist you in recruiting chartered accountants for implementation works.

With best regards,

CA. Tarun Jamnadas Ghia
Central Council Member, ICAI &
Chairman, Ind AS (IFRS) Implementation Committee
The Institute of Chartered Accountants of India
E-mail: ChairmanIndAS@icai.in

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