Implementation of IND AS for an MNC Subsidiary


  • Transitioning to new GAAP rules and regulations under IND AS framework
  • Client had to complete the work in very limited time with sign off from its Big 4 audit firm
  • Client team had less exposure to Ind-AS rules and regulations

How we helped

  • Detailed impact assessment of GAAP differences between IND AS and Indian GAAP
  • Educating the management of various elections and its consequences
  • A detailed line Item wise impact assessment along with a comparison with Indian GAAP
  • Differences were analysed for level of impact based on cost, implications and process changes.
  • White papers created to discuss specific peculiar issues in detail and how those are proposed to be handled under the new GAAP


  • IND AS detailed impact assessment completed and communicated to stakeholders within tight timelines
  • IND AS compliant Financials prepared along with all the requisite notes to accounts, other schedules & relevant disclosures.
  • New process and system requirements identified with stakeholder sign-offs
  • Helped the auditors in timely completion of the audit w.r.t. IND AS compliance check.
  • Knowledge & expertise gap was bridged.
  • Cost effective option as compared to availing the same service from big 4
  • Staff resource & their time were used effectively for other important tasks.
  • Routine tasks were not affected.
  • Statutory compliance met within short period of time.