Regulatory updates

EDs/consultation papers – India and international Updates

Updates from ICAI

Back

In August 2023, the International Accounting Standards Board (IASB) issued Lack of Exchangeability, which amended IAS 21, the Effects of Changes in Foreign Exchange Rates.

Accordingly, recently, the Institute of Chartered Accountants of India (ICAI) issued the Exposure Draft (ED) on Lack of exchangeability-Amendments to Ind AS 21, The Effects of Changes in Foreign Exchange Rates.

The comment period ended on 1 December 2023.

To access the text of the ED, please click here

ICAI had submitted recommendations to the National Financial Reporting Authority (NFRA) regarding 35 Standards on Auditing (SAs) for audit of companies. ICAI is of the view that these standards should apply mutatis mutandis to audit of LLPs as well.

In this regard, on 22 November 2023, ICAI issued the ED of SAs for LLPs. The comment period is open till 6 January 2024.

To access the text of the ED, please click here

Our Insights

Tools and Enablers
Resources
Events and Webinars
Sectoral Insights

Reach out to us

;