Indian Accounting Standards Notification In A Month: MCA

The government is planning to come out with a notification for implementation of the proposed Indian Accounting Standards (Ind-AS) in a month's time, MCA officer said.

 "The notification for Ind-AS is going to happen in a month," Ministry of Corporate Affairs Joint Secretary A S Bhatia said on the sidelines of a seminar on corporate governance organised by the CII and the Institute of Cost Accountants. Ind-AS adoption will bring India at par with more than 105 countries where International Financial Reporting Standards are mandatorily followed. The government's commitment to adopt Ind-AS will further strengthen India's ability to attract foreign capital and access global capital markets.