Applicability of Ind AS 19 on NBFCs, Banks and Insurance Companies

Tikaram Chaudhary | Last updated: 10 November 2022

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Indian Accounting Standards (Ind AS) aim to align Indian financial reporting with global IFRS standards, ensuring uniformity and transparency. Ind AS 19 specifically governs employee benefits, requiring actuarial valuations for long-term benefits like gratuity and termination payments. This standard is becoming increasingly important for NBFCs, banks, and insurance companies, with phased implementation beginning in 2016 and extending to all relevant entities by April 2020.

Indian Accounting Standards (AS) can be understood as standards for the IFRS (International Financial Reporting Standards) to ensure that Indian Companies are accessible globally. These standards adopted were made mandatory for certain companies. The main objective is to ensure uniformity in financi

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About the Author

Tikaram Chaudhary

Founder GTFC

Profile of Our Firm - GTFC GTFC is an Indian Corporate Consulting Firm based in Capital of India - Delhi and founded by Mr. Tikaram Chaudhary. The Firm registered with Ministry of Micro, Small Medium Enterprises with Registration Number - UDYAM-DL-11-0013795. The Firm has a team of professionals with decades of exper ... Read more

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