KPMG in India is pleased to present Voices on Reporting – a monthly series of knowledge sharing calls to discuss current and emerging issues relating to financial reporting.
In this month’s call, we covered the key financial reporting and regulatory matters that are expected to be relevant for stakeholders. Our call included updates from the Ministry of Corporate Affairs (MCA), the Securities and Exchange Board of India (SEBI), the Reserve Bank of India (RBI), the Institute of Chartered Accountants of India (ICAI), the International Accounting Standards Board, etc. Some of the recent emerging issues on which we provided an update on the call are as follows:
- Foreign exchange volatility and its accounting implication
- One time relaxation from preparation of consolidated financial statements for unlisted companies
- The Ministry of Corporate Affairs clarification relating to definitions in the Accounting Standards and Ind AS vis-à-vis the Companies Act, 2013
- New Listing Regulations issued by the Securities and Exchange Board of India
- The recently released guidance note on Audit of Internal Financial Controls over Financial Reporting issued by the ICAI.
Click here to access the audio recording (mp3, 7.05 MB) and the presentation (PDF, 2 MB).
Going forward, towards the end of each quarter we will share recent updates relevant to the quarters.