With the implementation of converged Indian Accounting Standards and regulatory requirement of filing of quarterly and year to date financial results by listed companies, interim financial reporting is a significant area for corporates and professionals in India. The preparers, reviewers and auditors have an equally important role to play and have to keep themselves updated about the significant developments. This book aims to provide a step-by-step guide for preparation of interim financial statements and interim financial results by companies incorporated in India as per the requirements of Ind AS 34, Interim financial reporting and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, to the extent applicable. Various illustrations have been included to explain the requirements in a user friendly manner. All relevant circulars, regulations, standards issued by the regulator have been analysed and discussed under the relevant topics in a lucid style.
- Includes audit and review report on interim financial results,
- Step-by-step guide for preparation of interim financial statements and interim financial results,
- Covers key requirements of regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended by SEBI (LODR) (Amendment) Regulations,
- 2016 and SEBI (LODR) (Second Amendment) Regulations, 2016, for submission of financial results by listed companies and related implementation issues,
- Discussion on key disclosure requirements of recently issued SEBI circular on “Disclosure in case of listed insurance companies”,
- Includes a comprehensive tabular summary of relaxations provided by SEBI in respect of comparative periods and reconciliations while publishing financial results in first year of Indas implementation,
- Extensive discussion on major differences between the two reporting frameworks (AS 25 and Ind AS 34),
- Covers provisions in respect of debt listed entities along with financial results published by various debt listed entities for the half-year ended 30 September 2016 for quick reference,
- Analysis of impact of Ind AS basis results of Nifty 50 companies for quarter ended 30 September 2016which is the first group to report their financial results as per Ind AS,
- Includes all the relevant frameworks, circulars, clarifications and formats issued by various authorities for interim financial reporting,
- Detailed checklist on internal financial reporting provisions under Ind AS 34,
- Includes illustrative standalone condensed interim financial statements with relevant notes to provide guidance to companies for preparation of condensed interim financial statements.
About the Author
Deepa Agarwal, B.Com, FCA has more than 15 years of experience in serving national and multi-national companies in the areas of Auditing and Accounting, Corporate Laws and other related matters. She has completed Information Systems Audit (ISA) course from ICAI in September 2006 (with 13th Rank in all over India and 5th Rank in NIRC) and certified course on IFRS from the Institute of Chartered Accountants of India, New Delhi in March 2011. She has worked with the Technical Directorate of ICAI for around 5 years and has assisted ICAI in various publications such as background material on AS 16, Technical guide on Accounting and Auditing issues in Chit Fund, Technical guide on internal auditing in case of intangible assets. She worked with BSR & Co. LLP in the technical department for a period of 9 years. Presently, she is leading the technical department of a renowned consultancy firm. She has authored ‘The Law & Practice of Financial Reporting Requirements and Auditor’s Responsibilities under Companies Act, 2013’ published by Bloomsbury Professional. She has worked extensively on preparation of comments, guidance and presentations on Companies Bill and Companies Act, 2013. She acted as a faculty member for the ICAI course organised by Ind-AS IFRS Implementation Committee. She has been a speaker in numerous seminars on accounting, auditing and companies act matters at various forums. She has imparted trainings to chartered accountants on Accounting Standards, Indian Accounting Standards, Auditing Standards and other updates. She regularly provides comments on various drafts on documents related to accounting, auditing and corporate laws issued by ICAI and MCA and worked extensively on issuance of interpretations, opinions and guidance on related matters.