Help........
Whats the difference between IFRS/IAS and IND AS ?
4 Replies
saurabh jain
(Audit Specialist)
(271 Points)
Replied 28 December 2012
IAS is older version of IFRS issued by IASB.
Ind AS is issued by indian government which are conversant with IFRS...
BHAWNA NATHRANI
(CA)
(57 Points)
Replied 29 December 2012
So IAS and IFRS series will continue or IFRS are going to be replaced?
saurabh jain
(Audit Specialist)
(271 Points)
Replied 31 December 2012
In longer term only IFRS will remain in scope...
Amit Ashok Chawla
(Corporate Trainer)
(383 Points)
Replied 05 January 2013
IASs are the international accounting standards issued until 2001. From 2001, any new accounting standards issued is referred to as IFRS.
IND-AS are indianised version of IFRS (though globally these are not accepted). Companies including Wipro, Airtel, Infosys prepare their financial statements under IFRS (for global listing), and under AS (Indian Accounting Standards) for SEBI listing requirements.
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