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Accounting and Auditing Update March 2014

Accounting and Auditing Update March 2014

The March 2014 edition of the Accounting and Auditing Update leads with our article on the airport infrastructure sector which focusses on the business models applied in this sector and their implications from an accounting and reporting perspective.


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This month, we also examine the complexity and challenges associated with
carve-out financial statements. Continuing with our series of articles on the
Companies Act, 2013, we highlight key measures that relate to investor and
stakeholder protection.  As we approach the financial year end for most
companies in India, we have also attempted to summarise in one place, key
developments under Indian GAAP, IFRS and U.S. GAAP in the past year that may be relevant for preparers of financial statements. Under U.S. GAAP, we have covered a recent development in the area of hedge accounting affecting private companies. Finally, we also cover our regular overview of the key regulatory developments during the recent past, including highlighting a recent EAC opinion on the accounting of a principal only currency swap which has some interesting implications.

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KPMG (Registered) (a partnership firm with Registration No. BA- 62445) converted into KPMG Assurance and Consulting Services LLP (a Limited Liability partnership firm) with LLP Registration No. AAT-0367 with effect from July 23, 2020.

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