We support finance teams through each phase of Ind AS transition, with focus on technical accuracy and implementation practicality.
Diagnostic Review and Policy Development
- Diagnostic review of current accounting policies under Indian GAAP.
- Gap analysis to identify divergence against applicable Ind AS requirements.
- Impact assessment reporting across key financial statement areas.
- Redrafting and development of Ind AS-compliant accounting policies.
- Advisory on critical accounting choices available under Ind AS.
Opening Balance Sheet and Comparative Periods
- Preparation assistance for the Ind AS opening balance sheet as on transition date.
- Application support for exemptions and exceptions under Ind AS 101.
- Assistance in preparing comparative period financial statements.
- Assistance in preparing reporting period financial statements under Ind AS.
Implementation and Ongoing Support
- System and process change guidance for Ind AS data capture and disclosures.
- Recommendations for fair value and disclosure-related process upgrades.
- Drafting support for Ind AS-compliant financial statements and disclosures.
- Coordination support during transition audit.
- Ongoing issue resolution and policy updates for evolving Ind AS requirements.
- Knowledge transfer sessions for internal teams on post-transition implications.