Accounting and Auditing Update


The Accounting and Auditing Update, a monthly publication by KPMG in India aims at providing timely inputs on recent regulatory updates in addition to analytical articles on topics relevant to the sector.
The September 2014 edition of the Accounting and Auditing Update provides insights into actions that can be taken by regulators and highlights related accounting and reporting considerations that impact companies primarily in the pharmaceutical sector. We also cover two articles on the Companies Act, 2013 where we share some practical experience and implementation challenges – one is on corporate social responsibility and second on the related party transactions. Under the International Financial Reporting Standards, we cover the status of the lease accounting project and some of the narrow scope but significant amendments issued by the International Accounting Standards Board. As always, we have also covered key regulatory developments during the recent past.

This issue includes :


  • Pharma sector - concept of current good manufacturing practices and import alerts
  • Corporate social responsibility - an analysis
  • Status of the lease accounting project
  • Implementation challenges for related party reporting under the Companies Act, 2013
  • Summary of narrow scope but significant amendments under IFRS
  • Regulatory updates


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