Tapping into the burgeoning BFSI market
See Overview
The Consumer & Retail sector is growing rapidly and is extremely dynamic. Due to constant disruption, managing business has become complicated and cumbersome.
See Overview
Our healthcare and life sciences advisory team brings together a combined experience of over 50 years to help businesses navigate through changes, new...
See Overview
At Grant Thornton in India, our automotive team works with a wide variety of clients to help them achieve their goals and increase shareholder wealth. Our...
See Overview
M&E practice encompasses team of dynamic professionals with deep technical knowledge and extensive experience of working across segments say television, print,...
See Overview
Tailored service offerings to Not for Profit organisations and CSR compliance services for dynamic businesses
See Overview
At Grant Thornton, we assist dynamic Indian businesses in the Real Estate & Construction sector throughout their business life cycle by offering robust...
See Overview
Contents
Grant Thornton Bharat presents the latest edition of the Monthly GAAP Bulletin that summarises significant accounting, auditing and regulatory updates. This publication has been compiled to meet the needs of dynamic Indian businesses and focuses on key developments in India and across the globe.
Quick snapshot of some key updates
India updates – Effective
Auditing Updates
- ICAI Publication: Implementation Guides on SA 560, ‘Subsequent Events’ and SA 210, ‘Agreeing the Terms of Audit Engagements’
Regulatory updates
Companies Act updates
- MCA notifies higher additional fees for late filing vide amendment in Section 403 of the Companies Act, 2013 and also notified Companies (Registration Offices and Fees) Amendment Rules, 2022
- ICAI publication: Revised Guidance Notes on Schedule III
SEBI updates
- SEBI issues clarification w.r.t. timing of submission of NOC from the lending scheduled commercial banks/financial institutions/debenture trustee in a scheme of arrangement
- SEBI notifies disclosure obligations of high-value debt listed entities in relation to Related Party Transactions
Other regulatory updates
- RBI issues circular on Basel III Framework On liquidity standards relating to small business customers
- Release of Master Circular - Bank Finance to Non-Banking Financial Companies (NBFCs)
India updates – Proposed
Regulatory updates
Other Regulatory updates
- IRDAI issues exposure draft on Guidelines on remuneration of non-executive directors and managing director/chief executive officer/whole-time directors of insurance companies
International updates – Effective
Auditing updates
- IAASB releases conforming and consequential amendments aligning existing IAASB Standards to Revised Quality Management Standards
Monthly GAAP Bulletin – February 2022
A summary of significant accounting, auditing and related updates.
