BRICS Chamber Of Commerce And Industry organised a conference on IND-AS: Future of Financial Reporting in the Indian Habitat Centre with Grand Thornton as Knowledge Partner and Achromic Point as Marketing Partner.
The conference commenced with a brief welcome note by Mr. BBL Madhukar, secretary general of BRICS-CCI after which the special guest, Mr. Nilesh S. Vikamsey, Vice Chairman of ICAI addressed the gathering. All the major
provisions in the new standards were extensively discussed: comparison between current Ind GAAP and Ind AS, role of ICDS, carve outs in Ind AS, need for co-ordination between ICAI, NACAS and industries.
The enriching discussion covered issues like Fair Valuation, componentisation, Hedge Accounting, possible changes in role of internal auditors in times to come. An elaborate interactive session with the guest on the complex ocedure of the transition from the Ind GAAP to Ind AS was conducted by Mr. Siddharth Talwar, partner, Grant hornton India LLP, Mr Amarjit Chopra, senior partner, GSA & Associates and Mr. keyur Dave, Partner, GTI LLP where the major topics were talked on.