With the recent Amendment in the accounting standards to meet the International Financial Reporting Standards (IFRS), the accounting ecosystem is about to undergo a drastic overhaul. In this regard, the World Trade Center Kochi in association with Ernst & Young Associates LLP & Confederation of Indian Industries conducted a Workshop on Indian Accounting Standards (Ind AS). Partners from EY Associates LLP engaged the sessions
The session aims to educate and create awareness among the top management officers, finance managers and accountants on Ind AS and its effects. It was also an opportunity for the Participants to clarify their queries on this evolving topic and its impact on areas like Phase 1 implementation, Financial Leasing etc.
Mr Aditya Bhauwala, Partner, EY & Associates LLP, made the opening remarks and presented the theme of the Workshop. Dr Devesh Prakash, Associate Partner EY, spoke on the learnings EY had when they surveyed the companies who had already adopted the new standards. Mr Pradeep Suresh, Director- EY & Associates LLP supported and he also spoke about changes that have happened in the new Revenue and Leasing Standards. Mr Vivek George represented WTCK and proposed the vote of thanks.