Quarterly GAAP Bulletin - April 2026
Thought leadershipStay updated with key GAAP and accounting developments for April 2026, including regulatory changes, standard updates and their impact on financial reporting.
The latest edition of the Quarterly GAAP Bulletin summarises significant accounting, auditing and regulatory updates, compiled to meet the needs of dynamic Indian businesses and focuses on key developments in India and across the globe.
This edition covers updates from January to March 2025.
Key updates
1.
Accounting treatment opinions issued by the Expert Advisory Committee (EAC) of the ICAI on:
- Capitalisation of annual technical support charges for an Intangible Asset under development (ERP).
- Classification of provision for doubtful debts no longer required written back.
- Classification and presentation of accrued wages and salaries to employees under trade payables or provisions.
2.
The Securities and Exchange Board of India (SEBI), basis consultation with Industry Standards Forum (ISF) has issued industry standards on following compliance requirements:
- Minimum information to be provided for review of the audit committee and shareholders for approval of a related party transaction.
- Key performance indicators’ disclosures in offer documents.
- Compliance under Regulation 30 of SEBI LODR Regulations relating to disclosure of material events or information.
Further, SEBI has also issued certain amendments to SEBI LODR Regulations, SEBI ICDR Regulations and SEBI PIT Regulations during the quarter.
3.
The Reserve Bank of India (RBI) has revised guidelines on the settlement of dues of borrowers by ARCs, and for private placement of NCDs with maturity period of more than one year by HFCs. The RBI has also clarified treatment of right-of-use asset for regulatory capital purposes for regulated RBI entities that follow Ind AS.
4.
The National Financial Reporting Authority (NFRA) has released three sets of publications titled ‘Auditor-Audit Committee Interactions’ series with the objective of reinforcing the ways and means of communication between the statutory auditors and audit committees, in order to enhance audit quality and promote awareness.
5.
Other updates from regulators in India include amendment in thresholds for MSME classification, updates to Form No. 3CD, amongst others.
