India may apply IFRS converged standards from 2016-2017
Posted by mostafa on 11 July, 2014
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The Indian Minister of Finance, Arun Jaitley, has proposed in his maiden budget speech that Indian companies apply Indian Accounting Standards (Ind AS), which are substantially converged with International Financial Reporting Standards (IFRS), from 2016-2017 financial years, with voluntary adoption permitted from a year earlier.