The Institute of Chartered Accountants of India (ICAI), Doha Chapter, recently organised a seminar on “Indian Companies Act, IFRS and Accounting Standards” at Holiday Villa Hotel & Residence, Doha. The event was sponsored by Expat Qatar.
Approximately 100 members attended the event.
CA Narendra P Sarda, a well-known accounting professional, delivered a talk the seminar. Sarda is prominent as a past president of ICAI, past chairman of Deloitte India, former board member of the International Accounting Standards Committee, London, and a member of the IFRS Advisory Council, London.
In the first session, Sarda spoke about the importance of the revised schedule VI of the Indian Companies Act and its impact on the preparation and presentation of financial statements. He also spoke about the revised form of the balance sheet and statement of profit and loss, and required disclosure requirements in the notes of accounts. In the second session, of he emphasised the importance of compliance with International Financial Reporting Standards, including revenue recognition and the major changes in IFRS.
In the opening address, ICAI Doha Chapter Chairman Sheji Valiyakath said, “Compliance with IFRS will not only help in the appropriate disclosure of financial information but also protect the interests of the stakeholders by adopting a single set of worldwide standards”.
The Peninsula
