The President of the Institute of Chartered Accountants of India, CA. AMARJIT CHOPRA said in his message to the members of the profession as follows:
“The members must be aware that we are making persistent efforts to meet the timelines laid down by the Ministry of Corporate Affairs for convergence with IFRS starting from 1st April 2011. Formulation of IFRS-converged Accounting Standards in time is the most significant milestone in this direction, which is at advanced stage. Exposure Drafts of all the Accounting Standards have already been issued.
Most of these Standards have also been considered by the Council of the ICAI after duly considering the comments received. These Standards are being considered by the National Advisory Committee on Accounting Standards (NACAS) simultaneously. It is expected that all the Standards would shortly be ready for notification by the Government.
Simultaneously, we are proactively going on with our concerted nation-wide drive to provide education and training to all the stakeholders concerned for proper implementation of IFRSs. For this purpose, IFRS Certificate Course and IFRS e-learning Course are being undertaken. As many as 38 batches of IFRS Certificate Course have been completed and around 2000 members have undergone this course.
In addition to this, we are dedicatedly continuing with the large-scale IFRS awareness campaign in collaboration with the Ministry of Corporate Affairs. As part of this mega campaign, 14 workshops have been organised in different parts of the country which have been attended by more than 850 delegates.”
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