Quick Summary
ICAI- ASB Questionnaire on application of Accounting Standards by Micro and Small Non-Corporate Entities
Accounting Standards (AS) and Micro and Small Non-Corporate Entities (MSNCE):
- ICAI Members are required to ensure compliance with AS while performing attest function enhancing creditability of Financial Statements of MSNCE.
- Simplicity and Relevance of AS to MSNCE considering their size and nature of business is a necessity.
ASB, ICAI has undertaken the significant initiative of conducting a survey among “Practicing Chartered Accountants” with following focus areas:
- To know your views and experience on application of AS by MSNCE.
- To understand the common areas of non-compliance of AS.
- To identify the areas that need simplification in AS.
DLH link for submitting views on Questionnaire: Click Here
Feedback latest by: August 10, 2020
Thank You in advance for your time in participating in the survey and sharing your experience.
Stay Safe Stay Healthy!
FAQ :
The ICAI is conducting a survey among practising Chartered Accountants regarding the application of Accounting Standards (AS) by Micro and Small Non-Corporate Entities (MSNCE).
ICAI is seeking views from practising Chartered Accountants.
The survey focuses on understanding members' views and experiences on AS application by MSNCE, common areas of non-compliance, and identifying AS that need simplification.
The survey aims to ensure the simplicity and relevance of Accounting Standards to MSNCE, considering their business size and nature, thereby enhancing the credibility of their financial statements.
The deadline for submitting feedback is August 10, 2020.
CAclubindia
