IFRS in India: Challenges and the Way Forward

Abstract

The decision to converge with IFRS will go a long way in the history of the corporate India. Implementation of IFRS involves challenges but change management can smoothen implementation to an extent. The present era of globalization and liberalization, the World has become an economic Village. A number of multi-national companies are establishing their businesses in various countries with emerging economies and vice versa. The entities in emerging economies are increasingly accessing the global markets to fulfil their capital needs by getting their securities listed on the stock exchanges outside their country.