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The Institute of Chartered Accountants of India has released theExposure Draft of Disclosures of Accounting Policies - Amendments to Ind AS 1, Presentation of Financial Statements.Comments on theExposure Draft may be submitted either electronically or via email or post so as to reach the institute by 31st August 2021. Read the official announcement below: Accounting Standards Board The Institute of Chartered Accountants of India 30th July, 2021 Exposure Draft of Disclosures of Accounting
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FAQ :
The ICAI has released an Exposure Draft of Disclosures of Accounting Policies, which proposes amendments to Ind AS 1, Presentation of Financial Statements.
The Exposure Draft requires companies to disclose their 'material accounting policy information' rather than their 'significant accounting policies'.
Comments on the Exposure Draft must be submitted by 31st August 2021.
Comments can be submitted electronically via the ICAI website, by email to commentsasb@icai.in, or by post to the Secretary, Accounting Standards Board, ICAI.
The amendments are part of the ICAI's convergence with IFRS Standards issued by the International Accounting Standards Board (IASB).
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