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IFRS convergence may have a significant impact on capital adequacy ratios of banks in India and may require significant changes to existing policies, systems and processes: KPMG Report

indiaprwire.com » 2008 » August » 22nd » IFRS convergence may have a significant impact on capital adequacy ratios of banks in India and may require significant changes to existing policies, systems and processes: KPMG Report

Tagged: banking financial services

/India PRwire/ - In line with the global trend, the Institute of Chartered Accountants of India (ICAI) has proposed a plan for convergence with International Financial Reporting Standards (IFRS) for certain defined entities – including banks – with effect from April 1, 2011. Convergence to IFRS would mean India would join a league of more than 100 countries, which have converged with IFRS. KPMG … Continue Reading »

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