Tapping into the burgeoning BFSI market
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FinTech Consulting Services
Leveraging our FinTech Consulting experience, we employ our proven approach in process reviews, tech risk management, and third-party audits for Indian financial services clients.
The Consumer & Retail sector is growing rapidly and is extremely dynamic. Due to constant disruption, managing business has become complicated and cumbersome.
Our healthcare and life sciences advisory team brings together a combined experience of over 50 years to help businesses navigate through changes, new...
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...
M&E practice encompasses team of dynamic professionals with deep technical knowledge and extensive experience of working across segments say television, print,...
Tailored service offerings to Not for Profit organisations and CSR compliance services for dynamic businesses
At Grant Thornton, we assist dynamic Indian businesses in the Real Estate & Construction sector throughout their business life cycle by offering robust...
Publication
Monthly GAAP Bulletin: November 2019
03 Dec 2019Grant Thornton in India presents ‘Monthly GAAP Bulletin’, a monthly bulletin that summarises significant accounting, auditing and related updates. This publication has been compiled to meet the needs of dynamic Indian businesses, capturing key developments in India and across the globe.
This edition covers updates for the month of October 2019. We hope you find this bulletin informative and useful.
Quick snapshot of some key updates
India
Effective
Accounting updates
- ITFG Clarification Bulletin 22 and Bulletin 23
- Ind AS publications issued by ICAI
- ASB Meeting updates
Disclosure of divergence in the asset classification and provisioning by banks - Preparation of financial statements by life insurers
Regulatory updates
Companies Act updates
- Relaxation of additional fees and extension of last date of filing of forms MGT-7 and AOC-4
- ICSI UDIN and eCSIN Guidelines
SEBI updates
- Resignation of statutory auditors from listed entities and their material subsidiaries
Other regulatory updates
- Guidelines on Compensation of WTD/CEO/Material Risk Takers and Control Function staff
- Clarifications in respect of option exercised under section 115BAA of the IT Act, inserted through the Taxation Laws (Amendment) Ordinance, 2019
- Lending by banks to InvITs
Proposed
Accounting updates
- Exposure Draft - Interest Rate Benchmark Reform - Amendments to Ind AS 109 and Ind AS 107
International
Effective
IFRS updates
- Compilation of Agenda Decisions published by IFRS Interpretations Committee
US GAAP updates
- FASB delays certain effective dates for credit losses, leases, hedging, and long-duration insurance standards
