Ind AS Implementation

Indian Accounting Standards (Ind AS) are India's IFRS-converged accounting standards that bring transparency, comparability, and global alignment to financial reporting. Transitioning to Ind AS is far more than a technical accounting change — it impacts processes, systems, contracts, KPIs, and stakeholder communication.

With phased applicability based on net worth, listing status, and group structure, every covered company must navigate first-time adoption under Ind AS 101, recognise complex areas like financial instruments, leases, and revenue, and meet Schedule III disclosure requirements without disrupting operations.

We provide end-to-end Ind AS implementation services — from applicability assessment and GAAP gap analysis to opening balance sheet conversion, accounting policy framework, system changes, and ongoing reporting support — ensuring a smooth, defensible, and audit-ready transition.

Our Ind AS Implementation Services

Applicability & Roadmap

Assessment of Ind AS applicability based on net worth, listing, and group structure with phased implementation roadmap.

GAAP Diagnostic

Detailed gap analysis between existing Indian GAAP and Ind AS, with identification of high-impact standards.

First-Time Adoption (Ind AS 101)

Selection of optional exemptions and mandatory exceptions, preparation of opening Ind AS balance sheet.

Accounting Policy Manual

Development of comprehensive Ind AS accounting policies, judgments, and estimates aligned with business model.

Complex Standards Advisory

Specialist support on Ind AS 109, 115, 116, 36, 19, 12, 21, business combinations, fair valuation, and consolidation.

Systems & Process Changes

Configuration of ERP, sub-ledgers, and reporting tools for parallel run, dual reporting, and Ind AS-compliant processes.

Disclosures & Schedule III

Preparation of Ind AS-compliant financial statements with Division II Schedule III disclosures and notes.

Training & Audit Support

Tailored training for finance, audit, and tax teams, and end-to-end support during statutory and limited review audits.

Our Implementation Process

Diagnostic & Roadmap

Applicability check, GAAP gap analysis, and project plan with milestones and resource allocation.

Policy & Standards Design

Selection of exemptions, accounting policies, judgments, and treatment for each significant standard.

Conversion & Workings

Opening balance sheet preparation, computation of adjustments, and impact on equity and P&L.

Systems & Reporting

ERP and chart of account changes, dual reporting setup, and design of Ind AS reporting templates.

Go-Live & Sustain

First Ind AS financials, audit support, ongoing advisory, and updates for new or amended standards.

Why Ind AS Implementation Matters

✓ Mandatory compliance for covered companies

✓ Improves transparency and comparability

✓ Aligns reporting with IFRS and global investors

✓ Captures fair value and substance over form

✓ Strengthens disclosures and stakeholder trust

✓ Enables better M&A, fundraising, and listing

✓ Reduces audit and regulatory observations

✓ Drives stronger finance processes and controls

FAQs on Ind AS Implementation

What are Ind AS?

Indian Accounting Standards (Ind AS) are accounting standards notified by the Ministry of Corporate Affairs that are largely converged with IFRS. They prescribe principles for recognition, measurement, presentation, and disclosure of transactions in financial statements of covered companies in India.

Which companies are required to adopt Ind AS?

Ind AS is applicable in phases primarily based on net worth, listing status, and parent-subsidiary relationships. Listed companies and unlisted companies above prescribed net worth thresholds, along with their holding, subsidiary, joint venture, and associate companies, are typically required to apply Ind AS.

What is Ind AS 101 and why is it important?

Ind AS 101 is the standard on First-Time Adoption of Indian Accounting Standards. It governs how a company prepares its first Ind AS financial statements, including the choice of optional exemptions, mandatory exceptions, and the preparation of the opening Ind AS balance sheet at the date of transition.

Which Ind AS standards usually have the biggest impact?

Areas that typically drive significant changes include Ind AS 109 (financial instruments), Ind AS 115 (revenue), Ind AS 116 (leases), Ind AS 36 (impairment), Ind AS 19 (employee benefits), Ind AS 12 (income taxes), Ind AS 21 (foreign exchange), and standards on business combinations and consolidation.

How does Ind AS impact systems and processes?

Ind AS adoption typically requires changes in chart of accounts, sub-ledgers for leases and financial instruments, fair value tools, ECL models, parallel ledger or dual reporting capabilities, and reporting templates. Processes around contracts, treasury, leases, and revenue often need to be redesigned.

How long does Ind AS implementation take?

Implementation timelines depend on the company's size, complexity, and IT landscape. A typical mid-sized group may require six to twelve months for diagnostic, conversion, system changes, and parallel run, with ongoing fine-tuning during the first reporting period under Ind AS.

Does Ind AS impact tax computations?

Yes. Ind AS-based profits often differ from those under earlier GAAP, leading to changes in book profits relevant for MAT, deferred tax, and certain tax adjustments under the Income Tax Act. Companies are required to carefully reconcile Ind AS profits with tax computations to avoid disputes.

Make Your Ind AS Transition Smooth and Audit-Ready

Partner with our Ind AS specialists to plan, convert, and report with confidence — without disrupting your business.

Talk to an Ind AS Expert