FINANCIAL REPORTING & COMPLIANCE
Ind AS compliance services and IFRS financial statement preparation in India for companies facing mandatory standard changes, cross-border reporting or investor-driven conversion requirements — delivered by a specialist CA firm with deep technical expertise.
Indian companies operate under three main accounting frameworks — each with different applicability, presentation requirements and disclosure obligations. Choosing the wrong framework or preparing statements incorrectly can trigger regulatory action, delay fundraising or complicate cross-border reporting.
| Framework | Who it applies to | Key regulator |
|---|---|---|
| Ind AS | Listed companies, unlisted companies with net worth ≥ ₹250 crore, subsidiaries / holding / associates of Ind AS companies | MCA / ICAI |
| IGAAP (AS) | Companies not yet required to adopt Ind AS — SMEs, certain NBFCs, smaller unlisted companies | MCA / ICAI |
| IFRS | Indian subsidiaries of foreign multinationals reporting to a global parent; companies listed on international exchanges | Parent / IASB |
Our IGAAP consultant and Ind AS / IFRS specialists guide you through applicability, preparation and disclosure — so your financial statements are technically correct, regulator-ready and investor-credible.
India's convergence with IFRS through Ind AS has created a complex transition landscape. Our Ind AS compliance services cover every stage — from first-time adoption to ongoing annual financial statement preparation.
Determining whether your company is required to adopt Ind AS — including analysis of net worth thresholds, group-company applicability and phase-in timelines.
Preparing the opening balance sheet under Ind AS, selecting optional exemptions and mandatory exceptions, and restating comparatives as required.
Preparation of complete Ind AS financial statements — Balance Sheet, P&L, Statement of Changes in Equity, Cash Flow Statement and Notes — with full disclosures.
Quantifying the financial impact of transitioning from IGAAP to Ind AS — covering key differences in revenue recognition, lease accounting, financial instruments and more.
Foreign subsidiaries in India are often required to prepare financial statements under IFRS for group consolidation or parent-company reporting. Our IFRS financial statement preparation in India services bridge the gap between Indian statutory compliance and international reporting requirements.
Full IFRS-compliant financial statements for Indian subsidiaries of foreign multinationals — prepared in the format required by the parent group and local MCA filings.
Our financial statement conversion services convert IGAAP books to IFRS — identifying key differences, adjusting accounting policies and preparing reconciliation schedules.
Preparing consolidation reporting packs in the format required by the global parent — including intercompany eliminations, goodwill calculations and group accounting policy alignment.
Preparing reconciliation statements between Indian Ind AS financials and IFRS group financials — for companies that maintain dual reporting simultaneously.
Companies not yet required to adopt Ind AS continue to prepare financial statements under Indian GAAP (Accounting Standards issued by ICAI). As an experienced IGAAP consultant, AAPT & Associates provides:
Our financial statement conversion services handle all three conversion directions — with full technical documentation and management-ready reconciliation schedules:
Full conversion with opening balance sheet restatement, comparative period adjustment and Ind AS 101 disclosures — for companies crossing the mandatory adoption threshold.
Conversion for Indian subsidiaries of foreign companies requiring IFRS group reporting — with IFRS 1 first-time adoption analysis and reconciliation schedules.
Dual reporting reconciliation for companies maintaining both Indian statutory (Ind AS) and international (IFRS) financial statements simultaneously.
Conversion support for US-headquartered companies with Indian subsidiaries requiring local statutory compliance alongside US GAAP group reporting.
We determine which accounting standard applies to your company, assess the gap between your current reporting and target framework, and scope the engagement.
We identify available policy choices under the target framework, quantify their financial impact and recommend the most appropriate options for your business.
We prepare all opening balance sheet adjustments, restatement of comparatives and reconciliation between old and new frameworks — fully documented and auditor-ready.
Complete preparation of primary statements (Balance Sheet, P&L, Cash Flow, SOCE) and Notes — with full disclosures as required under the applicable framework.
We review statements for technical accuracy, prepare supporting workpapers and provide ongoing support to your statutory auditor through the sign-off process.
AAPT & Associates brings together CAs with deep technical expertise in Ind AS, IFRS and IGAAP — and practical experience preparing financial statements for listed companies, MNC subsidiaries, PE-backed businesses and first-time adopters. Our Ind AS compliance services and IFRS financial statement preparation in India engagements are led by professionals who stay current on standard updates, MCA notifications and ICAI guidance circulars — so your financial statements are always technically sound and regulator-ready.
Ind AS compliance is mandatory for listed companies, unlisted public companies with net worth ≥ ₹250 crore, and companies that are subsidiaries, holding companies or associates of Ind AS companies. Phase-wise applicability continues to expand — our team can confirm whether your company is required to adopt Ind AS and from which financial year.
Ind AS is India's convergence with IFRS — it is substantially similar but with carve-outs and modifications to reflect Indian legal and regulatory requirements. For most practical purposes, Ind AS and IFRS financial statements are closely aligned, but companies with dual reporting obligations (Indian statutory + group IFRS) require reconciliation between the two. Our IFRS financial statement preparation in India team handles both.
Yes — our financial statement conversion services cover IGAAP to Ind AS conversion end-to-end, including opening balance sheet preparation under Ind AS 101, restatement of prior-year comparatives, accounting policy selection and all required transition disclosures.
Yes. Many foreign multinationals require their Indian subsidiaries to prepare financial statements or group reporting packs under IFRS alongside their Indian statutory (Ind AS or IGAAP) accounts. AAPT provides full IFRS financial statement preparation in India — including IFRS group reporting packs, reconciliation schedules and dual reporting support.
Companies below the Ind AS applicability threshold continue to prepare financial statements under Indian GAAP (IGAAP / AS). As an experienced IGAAP consultant, AAPT prepares IGAAP-compliant financial statements, accounting policy documentation and disclosure checklists — and advises companies on transitioning to Ind AS when they cross the applicability threshold.
A straightforward IGAAP-to-Ind AS conversion for a single-entity company typically takes 4 to 8 weeks. Complex conversions involving multiple entities, significant fair value measurements or foreign currency operations may take longer. We provide a timeline estimate within 48 hours of scoping.
Talk to our financial reporting team about your specific situation — whether you are converting for the first time, preparing for an audit or meeting a group reporting deadline.
