Ind AS Conversion.
Ind AS conversion moves your financial statements from the existing Accounting Standards (Indian GAAP) to Indian Accounting Standards, India's IFRS-converged framework. It applies to companies listing on the main board and to those crossing the net worth thresholds, and an IPO offer document needs restated Ind AS financials. We manage the transition under Ind AS 101, from impact assessment to the first Ind AS financial statements.
Typically 8–16 weeks, depending on group size and the complexity of contracts and financial instruments. Restating three years for an IPO offer document adds to this.
A partner — a chartered accountant or company secretary — from the first call to sign-off.
Based on your situation, and fixed in writing before any work starts.
Is this for you?
- Companies preparing for a main-board IPO
- Companies with net worth of ₹250 crore or more, or whose holding, subsidiary, joint venture or associate company applies Ind AS
- Indian subsidiaries of groups that report under IFRS
What you receive at the end.
- 01Ind AS impact assessment report
- 02Accounting policy manual and paper on Ind AS 101 elections
- 03Opening Ind AS balance sheet with adjustment workings
- 04Reconciliations of equity and profit from previous GAAP to Ind AS
- 05First Ind AS financial statements with disclosures
Ind AS Conversion, step by step.
Typically 8–16 weeks, depending on group size and the complexity of contracts and financial instruments. Restating three years for an IPO offer document adds to this.
- 1
Impact assessment
We compare your current policies with Ind AS and identify differences in areas such as revenue (Ind AS 115), leases (Ind AS 116), financial instruments (Ind AS 109) and consolidation.
- 2
Policy choices
We fix the transition date and recommend Ind AS 101 exemptions and accounting policy choices for approval by management and the audit committee.
- 3
Opening balance sheet
We prepare the Ind AS opening balance sheet at the transition date, with adjustments and their deferred tax effects.
- 4
Comparatives and reconciliations
We restate comparatives and prepare the reconciliations of equity and profit that Ind AS 101 requires.
- 5
First Ind AS financials
We draft the first Ind AS financial statements and disclosures and support the auditor's review.
- 6
Embed in reporting
We update the chart of accounts, close procedures and MIS so Ind AS reporting continues every period.
What we need from you.
Don't have everything yet? We send a short checklist after the first call and work with what you have.
- Audited financial statements and trial balances for the transition period
- Revenue contracts, lease agreements and loan agreements
- Details of investments, derivatives and other financial instruments
- ESOP schemes and grant details
- Group structure with details of subsidiaries, associates and joint ventures
- Fixed asset register
The fee depends on your situation. After a short call, the partner who will do the work tells you what's involved and gives you a fixed fee in writing — before any work begins.
- Government fees and statutory charges are billed at actuals.
- When you pay — upfront, in stages or on completion — is agreed in writing with the fee.
Questions about Ind AS Conversion.
Ready to discuss Ind AS Conversion?
30-minute confidential call — no proposal, no commitment. A partner will write back within one business day.