The Ministry of Corporate Affairs (MCA), on 28 March 2018, issued certain amendments to Ind AS.
The Ministry of Corporate Affairs (MCA), on 28 March 2018, issued certain amendments to Ind AS. These amendments maintain convergence with IFRS by incorporating amendments issued by International Accounting Standards Board (IASB) into Ind AS.
The IASB along with the IFRS Interpretations Committee, issues amendments to IFRS either as part of its annual improvement process or as specific amendments to IFRS, to resolve inconsistencies in the standards or to provide further clarifications.
The amendments relate to the following standards:
This issue of IFRS Notes provides an overview of the amendments issued by MCA.
To access the text of the MCA notification, please click here.
© 2020 KPMG Assurance and Consulting Services LLP, an Indian Limited Liability Partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.
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.