Rising to the challenge of IFRS

IFRS represents a significant shift in financial reporting across the corporate sector.
Following an announcement by the Institute of Chartered Accountants of India (ICAI) in August 2007 all the public entities will be required to adopt International Financial Reporting Standards (IFRS) from the financial year beginning 1 April, 2011 and may also be required to restate the 31 March, 2010 accounts using IFRS to provide comparative information.
Many organisations may have started considering how to address the challenge of conversion. This publication sets out the key issues that should be considered during an IFRS conversion.
Rising to the challenge of IFRS