KPMG in India is pleased to present Voices on Reporting – a monthly series of knowledge sharing calls to discuss current and emerging issues relating to financial reporting.

In this session of our Voices on Reporting webinar, we covered key financial reporting and regulatory matters that are expected to be relevant for stakeholders for the quarter ended 30 September 2017.

The session included key updates from the Ministry of Corporate Affairs (MCA), the Institute of Chartered Accountants of India (ICAI) and the Securities and Exchange Board of India (SEBI). Some of the recent emerging issues on which we provided an update are as follows:

• Updates on recent Ind AS Transition Facilitation Group (ITFG) Bulletins
• Key points from the Guidance Note on Division II – Ind AS Schedule III to the Companies Act, 2013 (2013 Act) issued by ICAI
• Restriction on the number of layers for certain classes of holding companies
• Clarifications in relation to internal financial controls for certain private companies by MCA
• Amendments to certain provisions relating to independent directors under the 2013 Act issued by MCA
• Revised eligibility conditions under Rule 19(7) of the Securities Contracts (Regulation) Rules, 1957 for companies seeking listing of its equity shares acquired under a scheme of arrangement without making an initial public offer
• Mandatory disclosure of defaults on repayment of loans from banks by listed entities.
  

 

Downloads:

Slidedeck - October 2017 (PDF, 631 KB)