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The Institute of Chartered Accountants of India has released the Exposure Draft of Revised AS 105, Non-Current Assets Held for Sale and Discontinued Operations. Comments on the same may be sent electronically or via email or post so as to reach the institute by 14th September 2021. Read the official announcement below:

Accounting Standards Board
The Institute of Chartered Accountants of India
13th August, 2021

Sub: Exposure Draft of Revised Accounting Standards for Public Comments

The Indian Accounting Standards (Ind AS), as notified by the Ministry of Corporate Affairs in February 2015, and as amended from time to time are applicable to the specified class of companies as per Ind AS Roadmap. Accounting Standards notified under Companies (Accounting Standards) Rules, 2021 and those issued by the ICAI are applicable to entities to whom Ind AS are not applicable. However, on the basis of the discussions held at various standard setting forums, it has been decided to revise Accounting Standards (AS). Accordingly, ASB is working on the project of revision of these standards which will be applicable to entities to whom Ind AS are not applicable. While formulating these Accounting Standards, the ASB decided to maintain the consistency in the numbering of AS with Ind AS numbering.

In this direction, the Exposure Draft of revised AS 105, Non-current Assets Held for Sale and Discontinued Operations, has been issued by the ASB for comments with the last date being September 14, 2021, which can be assessed at the link https://resource.cdn.icai.org/66040asb53286.pdf

Further, comments on the abovementioned Exposure Draft issued by the ASB may be submitted through any of the following modes.

ICAI I Exposure Draft of revised AS 105 - Non-current Assets Held for Sale and Discontinued Operations
1. Electronically: Click on www.icai.org/comments/asb/ to submit comment online (Preferred method)
2. Email: Comments can be sent to: commentsasb@icai.in
3. Postal: Secretary, Accounting Standards Board,
The Institute of Chartered Accountants of India,
ICAI Bhawan, Post Box No. 7100,
Indraprastha Marg, New Delhi 110 002

Further clarifications on any aspect of this Exposure Draft may be sought by e-mail to asb@icai.in

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