Accounting Standards

Ind AS & IFRS
Advisory.

Helping companies transition to Indian Accounting Standards and maintain accurate, compliant financial reporting — without disrupting your business.

This service applies to

→Companies mandatorily required to adopt Ind AS based on net worth or listing status
→Indian subsidiaries of foreign companies reporting under IFRS
→Businesses preparing for PE investment or IPO
→Companies with complex leases, revenue contracts, or financial instruments

Overview

What is Ind AS and
why does it matter?

Ind AS (Indian Accounting Standards) are a set of accounting standards issued by the Ministry of Corporate Affairs (MCA), converged with International Financial Reporting Standards (IFRS). They replace the older AS (Accounting Standards) framework for eligible companies.

Since 2016, the MCA has mandated Ind AS adoption in phases — covering listed companies, unlisted companies above specified net worth thresholds, and their subsidiaries. Getting the transition right the first time matters because restatements are costly and audit qualifications damage credibility.

Different revenue recognition rules under Ind AS 115
Operating leases now appear on the balance sheet under Ind AS 116
Financial instruments require fair value measurement under Ind AS 109
Group consolidation rules are stricter under Ind AS 110

Key standards we work with

Ind AS 115 — RevenueComplex

Ind AS 116 — LeasesCommon

Ind AS 109 — Fin. InstrumentsTechnical

Ind AS 110 — ConsolidationGroup Co.

Ind AS 103 — Business Comb.M&A

Ind AS 12 — Income TaxesDeferred Tax

What We Do

Our Ind AS advisory
scope.

We provide end-to-end support — from first-time adoption to ongoing quarterly and annual compliance across applicable Ind AS standards.

First-time Ind AS adoption — opening balance sheet and reconciliation statements
Revenue recognition review under Ind AS 115 contract by contract
Right-of-use asset and lease liability calculations under Ind AS 116
Expected Credit Loss (ECL) modelling under Ind AS 109
Consolidated financial statement preparation under Ind AS 110/28
Deferred tax calculations and disclosure under Ind AS 12
Liaison with your statutory auditors through the audit process

Our deliverables

✓Opening balance sheet adjustments
✓Reconciliation statements (GAAP to Ind AS)
✓Revised accounting policy documents
✓Updated financial statement formats
✓Disclosure notes as per Ind AS
✓Auditor coordination and sign-off support

Our Process

How a typical Ind AS
engagement works.

Step 01

Gap Assessment

We review your current accounting policies against Ind AS requirements and identify every area where differences exist — revenue, leases, financial instruments, and more.

Step 02

Transition Planning

A detailed roadmap is prepared covering what needs to change, in what order, and by when — built around your statutory deadlines and audit timeline.

Step 03

Implementation

We prepare opening balance sheet adjustments, restate comparatives where required, and update all accounting policy documents and disclosure notes.

Step 04

Auditor Sign-Off

We liaise directly with your statutory auditors, address their queries, and ensure the Ind AS financial statements are signed off without qualification.

Ind AS & IFRSAdvisory.

This service applies to

What is Ind AS andwhy does it matter?

Our Ind AS advisoryscope.

How a typical Ind ASengagement works.

Need Ind AS support?

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Ind AS & IFRS
Advisory.

What is Ind AS and
why does it matter?

Our Ind AS advisory
scope.

How a typical Ind AS
engagement works.