Issue no. 5 | December 2016

Issue no. 5 | December 2016

This month the Accounting and Auditing Update focusses on the recent updates from the regulators in India and emerging new trends in the field of accounting and auditing.


This edition includes a detailed analysis on the recent notified sections of the Companies Act, 2013 relating to restructuring, amalgamation and winding-up of companies. The notification of these sections was much awaited and our article discusses the key provisions of the recently notified sections along with our comments.

This publication also carries an article on revised guidance note on reports or certificates for special purposes issued by the Institute of Chartered Accountants of India. The article provides an overview of the key elements of the guidance note and highlights additional considerations for management of entities and practitioners. 

Ind AS 110, Consolidated Financial Statements provides wider definition of control in comparison to Accounting Standards. The revised definition is expected to impact the current structures and give rise to certain practical issues while preparing consolidated financial statements. Our article highlights some of these issues and explains the accounting under Ind AS with the help of examples.

Additionally, this publication carries an article on low-interest and interest-free loans under Ind AS 109, Financial Instruments. The article on this topic explains the accounting with the help of illustrative examples and a detailed flowchart.

Our publication also carries a regular synopsis of regulatory updates.

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