Conversion to Ind-AS / IFRS

Q: What is the difference between Ind-AS and IFRS?

IFRS are the International Financial Reporting Standards used globally. Ind-AS are India's standards, converged with IFRS but including certain carve-outs and modifications. The two are closely aligned but differ in specific requirements and disclosures.

Q: Which companies need to convert to Ind-AS or IFRS?

Applicability depends on company type, net worth, and listing status, with phased thresholds for Ind-AS. Companies with global operations or foreign investors may also adopt IFRS.

Expert Support for a Smooth, Compliant Transition to Ind-AS and IFRS

Converting financial statements to Ind-AS or IFRS is a significant undertaking. It is far more than relabelling accounts — it affects revenue recognition, financial instruments, leases, fair value measurement, consolidation, and extensive new disclosures. Done poorly, conversion introduces errors, restatements, and audit challenges. Done well, it produces transparent, globally comparable financial statements that build confidence with investors, lenders, and regulators.

Our Ind-AS and IFRS conversion services guide companies through the entire transition — from impact assessment and accounting policy design to restatement, disclosures, and audit support. We manage the complexity so your conversion is accurate, compliant, and on time. These services build on our accounting review services, financial reporting & MIS, and accountant services for end-to-end assurance.

Our Ind-AS / IFRS Conversion Services

Impact Assessment

Identifying how Ind-AS or IFRS will affect your numbers, systems, and disclosures.

Accounting Policy Design

Developing compliant accounting policies aligned with the applicable standards.

GAAP Difference Analysis

Analysing differences between existing GAAP and Ind-AS / IFRS with clear adjustments.

Financial Restatement

Restating financial statements and preparing the required transition adjustments.

Disclosure Preparation

Drafting the extensive disclosures and notes required under Ind-AS and IFRS.

Audit Support

Supporting your auditors through the conversion with documentation and reconciliations.

Benefits of Professional Conversion

Accurate, compliant conversion that withstands audit scrutiny
Transparent, globally comparable financial statements
Fewer errors, restatements, and last-minute surprises
Greater confidence among investors, lenders, and regulators
Clear understanding of how new standards affect your numbers
A structured, managed transition delivered on time

Frequently Asked Questions

What is the difference between Ind-AS and IFRS?

IFRS are the International Financial Reporting Standards issued by the IASB and used globally. Ind-AS are India's accounting standards, which are converged with IFRS but include certain carve-outs and modifications to suit the Indian environment. The two are closely aligned, but the specific requirements and disclosures differ in places, which is why expert guidance matters.

Which companies need to convert to Ind-AS or IFRS?

Applicability depends on factors such as company type, net worth, and listing status, with phased thresholds determining who must adopt Ind-AS. Companies with global operations, foreign investors, or overseas reporting needs may also adopt IFRS. We can help assess whether and when conversion applies to your business.

What areas are most affected by conversion?

Commonly affected areas include revenue recognition, financial instruments, leases, fair value measurement, business combinations, consolidation, and deferred taxes. Conversion also introduces significantly expanded disclosure requirements. The precise impact depends on your industry and transactions.

How long does an Ind-AS or IFRS conversion take?

Timelines vary with the size and complexity of the business, the number of affected areas, and data availability. A structured project — beginning with impact assessment and progressing through policy design, restatement, and disclosures — helps ensure the conversion is completed accurately and on schedule.

Do you support us through the audit of converted statements?

Yes. We prepare the documentation, reconciliations, and adjustment workings your auditors need, and support you through their review of the converted financial statements. This reduces audit friction and helps ensure a smooth sign-off.

Convert to Ind-AS / IFRS with Confidence

Expert Ind-AS and IFRS conversion services for an accurate, compliant, and timely transition.