The financial reporting environment in India has been under greater scrutiny than ever before with International Financial Reporting Standards (IFRS) convergence. The wide implications of these changes have created new challenges for corporate management. Compliance with standards, changes required to accounting information systems, the need for adequate knowledgeable resources, impacts on expected earnings to report, possible changes to financial ratios impacted debt covenants, and linkage with taxation are among the many complex arising from these significant changes in accounting standards.
Continual changes in accounting standards, practices, laws and guidelines can present a myriad of financial reporting and operational issues to your business. And that’s not all: Changes in business operations or industry developments can introduce new accounting policies within your organization. And you need to be aware of these changes.
Just because all of these changes can and will happen, the one thing you and your business can count on is our unwavering commitment to the stability of your bottom line.
Our Financial Accounting Advisory Services (FAAS) team can help you to navigate through any and all changes that arise. Our FAAS team of professionals come from extensive and robust backgrounds in the adoption, implementation and reporting of new accounting standards. Our experiences enable us to provide insightful advice and recommendations to large public companies as well as to middle market businesses.
Whether it is determining the proper journal entries, designing or implementing internal controls, writing technical accounting memoranda or drafting footnote disclosures, Our team can help you to make the implementation of new accounting policies seamless and efficient.