Page 66 - Quick Insights Book 2022

Chap. 16 – Indian Accounting Standards (Ind AS)

be preferred choice in talent hunt. So, is the case with ICAI SUPPORT
nation i.e., India with large population of professionals
with globally acceptable standards will attract more and It is worthwhile to note that proficient knowledge of Ind AS
more BPO/ KPO hubs in the years to come which will will enable a level playing field in accounting profession or
have multiplier effect on career opportunities. career internationally. It may be noted that ICAI conducts
Ind AS/IFRS Certification Courses for its members in India
 Training and consulting – a large number of domestic and abroad. This can be global passport for worldwide
potential clients coupled with many listed entities using
IFRS Accounting Standards, offer a very attractive accountancy career. ICAI also issues various publications
profession in training and consulting for Ind AS experts. on Ind AS/IFRS to equip and update members and has
hosted Part B (Accompanying Guidance) and Part C (Basis
 Professional Opportunities in India – a lot of Ind AS of Conclusions) of IFRS Accounting Standards at its website
convergence, compliance and audit opportunities are which is very useful Guidance Materials for stakeholders.
available for chartered accountants in India.
ICAI develops Educational Materials on Ind AS and other
 Opportunities in Industries – lot of multinational entities relevant guidance to ensure effective implementation of
are hiring Indian chartered accountants for Ind AS / IFRS Ind AS. Webinars/seminars/training programmes/refresher
work and have opened a new domain area. courses etc. on Ind AS conducted as a part of knowledge
dissemination activities.
 Also, many US GAAPs have principles similar to IFRS
Accounting Standards. Accordingly, Ind AS professionals
can also explore opportunities in the US GAAP domain
with some extra efforts.

Courses offered
• Certificate Course on Ind AS (Indian Accounting Standards) for proper implementation of IFRS-converged Indian Accounting
Standards (Ind AS), for details, visit the link https://www.icai.org/post.html?post_id=3562
Important Links
• Ind AS Notifications by Central Government - https://www.icai.org/new_post.html?post_id=12125&c_id=420
• Compendium of Indian Accounting Standards (Ind AS) and Ind AS Guidance Materials-
https://www.icai.org/post/compendium-of-indian-accounting-standards-and-ind-as-guidance-material
• IFRS convergence status of Ind AS - https://www.icai.org/post/ifrs-convergence-status-indian-accounting-standards
• FAQs issued by the Accounting Standards Board - https://www.icai.org/post.html?post_id=12716
• Educational Materials on Ind AS - https://www.icai.org/post.html?post_id=8202
• Indian Accounting Standards: An overview - https://resource.cdn.icai.org/68188indas54583.pdf
• Ind AS Technical Facilitation Group (ITFG) - https://www.icai.org/post.html?post_id=12745

Quick Insights on Professional Opportunities for Chartered Accountants 53