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DATA Act Compliance Shows Room for Improvement

16 Aug, 2018  Posted By Guru Raj Singh   Posted in DATA Act
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On 23 July 2018, the U.S. Government Accountability Office (GAO) released a report that examined the quality of agencies’ spending data in the context of the Digital Accountability and Transparency Act of 2014 (the DATA Act). Perhaps of some concern, … Continue reading

 

European Commission proposes to clarify the meaning of pre-marketing under AIFMD

10 Aug, 2018  Posted By Amruth Varshan   Posted in AIFMD
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In March 2018, the European Commission released a proposal to amend the AIFM directive in order to provide further clarity as to what constitutes pre-marketing. The proposal, if accepted, should be adopted in May 2019, and should then be implemented … Continue reading

 

XBRL – a standard for now and the future of compliance reporting in the US

03 Aug, 2018  Posted By Guru Raj Singh   Posted in xbrl
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XBRL has been around for a few years now. At the time of its introduction, much attention was given to the possibilities that XBRL reporting could offer – digitization, increased comparability and reliability to name a few. However, it’s equally … Continue reading

 

XBRL for MCA: Software or Service?

01 Aug, 2018  Posted By Shabeer   Posted in MCA - XBRL in India
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XBRL has been embraced by various regulatory bodies across the world. In India, The XBRL wave started in late 2007 when ICAI initiated the idea of using XBRL in collaboration with the different regulators in India that control registered companies, … Continue reading

 

XBRL around the world

31 Jul, 2018  Posted By Shabeer   Posted in xbrl
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While there has been increased focus on XBRL within the United States over recent months, in part due to the SEC’s recent announcement that iXBRL will be used by operating companies and mutual funds going forward, it’s also worth taking … Continue reading

 

Handling CbCR, and the penalties and impact of non-compliance

12 Jun, 2018  Posted By Gautham   Posted in CbCR
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Thе BEPS Action 13 report (Trаnѕfеr Pricing Dосumеntаtіоn аnd Country-by-Country Reporting) provides tеmрlаtеs for multіnаtіоnаl enterprises (MNEѕ) to compile rероrts yearly аnd for еасh tаx jurіѕdісtіоn in whісh thеу dо business. Such a report іѕ саllеd the Cоuntrу-bу-Cоuntrу (CbC) Rероrt. … Continue reading

 

Ind AS vs. Indian GAAP: What are the key differences?

29 May, 2018  Posted By Shabeer   Posted in MCA - XBRL in India, xbrl
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Ind AS vs. Indian GAAP: What are the key differences? India is trying to move to the Indian IFRS accounting standards popularly known as Ind AS. This move will not be easy considering that Ind AS is rather different from … Continue reading

 

Last date for filing Form AOC-4 (XBRL) extended by MCA

05 Apr, 2018  Posted By Amruth Varshan   Posted in xbrl
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Companies required to prepare the e-form AOC-4 for the financial year 2016-2017 now have some breathing room as MCA pushes the deadline for filing the XBRL document to 30 April 2018. Previously, organisations compliant with the Indian Accounting Standards (Ind … Continue reading

 

XBRL impact on the new Ind AS accounting standards

24 Jul, 2017  Posted By Balaji M   Posted in MCA, MCA - XBRL in India, Uncategorized, XBRL Filings
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It is no new news that ICAI has been working on IFRS convergence with Indian Accounting Standards for several years now. This converged standard is termed Ind AS popularly. The Ind AS is very similar to the IFRS but has … Continue reading

 

Bombay Stock Exchange mandates financial results in XBRL format

19 Jun, 2017  Posted By Charles A   Posted in MCA - XBRL in India, XBRL Filings
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Bombay Stock Exchange (or BSE) has recently issued a circular requiring all entities listed with them to file Financial Results in XBRL format with effect from 1st April 2017 as against the earlier practice of filing in PDF format. In … Continue reading

 

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