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ICAI to conduct Questionnaire Survey on Application of Accounting Standards

ICAI - Accounting Standards - Taxscan

The Institute of Chartered Accountants of India( ICAI ) – Accounting standard board is conducting a Questionnaire Survey on the Application of Accounting Standards by Micro and Small Corporate entities. The survey will set off from August 10, 2020, for two unstructured CPE Hours.

While doing the survey, the ICAI members are required to ensure compliance with AS while performing attest function enhancing creditability of Financial Statements of MSNCE and the simplicity and relevance of AS to MSNCE considering their size and nature of business is a necessity.

The ASB, ICAI has also undertaken the significant initiative of conducting a survey among “Practicing Chartered Accountants” with following focus areas:

  • To know your views and experience on the application of AS by MSNCE.
  • To understand the common areas of non-compliance with AS.
  • To identify the areas that need simplification in AS.

And the Questionnaire mainly focuses on;

  • Questions on the application of Accounting Standards by micro and small non-corporate entities
  • Share experience on the application of Accounting Standards in the context of clients which are micro and small non-corporate entities

Click the link to submit your view on the Questionnaire.

For more details, click here.

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