The Institute of Chartered Accountants of India (ICAI) has issued an Exposure Draft detailing amendments to the IND AS Taxonomy. This draft is open for public comment until 19th June 2021, encouraging transparency and stakeholder participation. The amendments are being made to reflect new Indian Accounting Standards (Ind AS) like Ind AS 116 'Leases' and other regulatory updates.
The Institute of Chartered Accountants of India has released theExposure Draft forAmendments inIND AS Taxonomy and in order to endorse transparency, objectivity, independence and participation of stakeholders, the same has been exposed for public comments till 19th June 2021. Read the official annou
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FAQ :
The ICAI has released an Exposure Draft of Amendments in the IND AS Taxonomy.
The purpose is to endorse transparency, objectivity, independence, and participation of stakeholders by inviting public comments on the proposed amendments.
Comments must be received by 19th June 2021.
The amendments are necessary due to the implementation of Ind AS 116 'Leases' and other amendments in Ind ASs and CSR Rules applicable from FY 2019-20 & 2020-21.
Comments can be submitted via email to xbrl@icai.in or by post to S.N.Gupta, Joint Director, Technical Directorate, XBRL India, ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi 110 002.
Comments are most helpful if they indicate the specific part of the draft they relate to, provide a clear rationale, and suggest alternative changes where possible. Suggestions for inclusion/deletion of elements are also welcome.