Tag: Financial Statements

ICAI has issued a draft Guidance Note on ‘Financial Statements of Limited Liability Partnerships (LLPs)’ for comments of the stakeholders, latest by March 8, 2023. In June 2022, the …

ICAI has issued a draft Guidance Note on ‘Financial Statements of Non-Corporate Entities (NCEs)’ for comments of the stakeholders latest by March 8, 2023. In June 2022, the ICAI …

ICAI has issued revised/updated Guidance Notes (2022 Edition) on Ind AS Compliance by ‘Non Ind AS Companies’ (Division I), ‘Ind AS Companies’ (Division II), and ‘NBFCs’ (Division III) for …

NFRA has issued a ‘Financial Reporting Quality Review Report (FRQRR)’ in respect of ‘KIOCL Ltd.’ for the FY 2019-20, wherein certain ‘High Impact Non-compliances’ of the Accounting Standards have …

MCA notifies the Companies (Accounts) Amendment Rules, 2020, whereby new Rule 12(1A) has been inserted requiring every NBFC (covered under Ind AS Rules) to file the financial statements with …

The MCA has notified the Companies (Accounts) Amendment Rules, from time to time, to amend the formats for financial statements/ other documents prepared by the companies under the Companies …

ICAI’s Guidance Note on Audit of Consolidated Financial Statements (Revised 2016 Edition) relating to procedures for preparation and presentation of consolidated financial statements under AS/ Ind AS, has been …

The Companies Act, 2013 had introduced Section 143(3)(i) which requires the statutory auditors of companies to report on adequacy and operating effectiveness of internal financial controls system of the …

The ICAI has clarified on FAQs regarding the requirements to prepare Consolidated Financial Statements in accordance with the applicable Companies Rules and the Accounting Standards, as under: These FAQs …

The MCA has revised Schedule III of the Companies Act, 2013 to include general instructions for preparing the balance sheet and profit and loss account of an Ind AS-compliant …