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Ifrs appicabilty

Gaurav Goel (student) (41 Points)

08 March 2013

Pease tell me about the applicability of IFRS in Nov 2013 CA Final Attempt at the earliest.

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Deepak Gupta (CA Student) (15922 Points)
Replied 08 March 2013

Originally posted by : Gaurav Goel
	Pease tell me about the applicability of IFRS in Nov 2013 CA Final Attempt at the earliest.

The applicability of IFRS for CA Final Nov 2013 is unlikely based on the following observation.

CA. Subodh Kumar Agrawal, who was elected as ICAI President, said the institute has given a tentative roadmap for implementation of IFRS standards to the Corporate Affairs Ministry.
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"The Institute has said that all companies having net worth of over Rs 1,000 crore should implement IFRS from April 1, 2015," he said.
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Those having net worth of over Rs 500 crore and up to Rs 1,000 crore, IFRS has to be implemented from April 1, 2016 and for companies, having net worth of below Rs 500 crore but listed, the timeframe would be April 1, 2017.
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However, the roadmap is not applicable for banking, insurance and NBFC companies, Agrawal said.
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https://articles.economictimes.indiatimes.com/2013-02-12/news/37059051_1_ifrs-central-bank-implementation (refer last para)