The weekly messenger | Edition 06.17

Accounting News

ED of Ind AS compliant Schedule III to the Companies Act, 2013 for NBFCs – 6 February 2017

Accounting Standards Board of the Institute of the Chartered Accountants of India (ICAI) has issued an Exposure Draft (ED) of the Ind AS- compliant Schedule III to the Companies Act, 2013, for Non- Banking Financial Companies (NBFCs).
 
Public comments are to be received by 6 March 2017.
 
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Regulatory News 

Basel III Capital Regulations- Additional Tier 1 Capital – 2 February 2017

The Reserve Bank of India (RBI) has amended Para 1.8(e) of Annexure 4 i.e. ‘Criteria for inclusion of Perpetual Debt Instruments (PDI) in Additional Tier 1’of the Master circular Basel III Capital Regulations which basically relates to payment of coupons. The amendment has been made in the sources to be used for the payment of coupons in case of insufficient current year profits.
 
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Integrated Reporting by Listed Entities – 6 February 2017

The Securities and Exchange Board of India (SEBI) in order to improve the disclosure standards currently being adopted by certain listed entities in India and other jurisdictions who are following the principles of integrated reporting has advised all the listed entities to adhere to the following: 

• Top 500 companies preparing Business Responsibility Report (BRR) to adopt integrated reporting on voluntary basis from F.Y. 2017-18 .
• Companies may provide information related to integrated report in its annual report separately or by incorporating it in Management Discussion & Analysis or by preparing a separate report.
• In case a company has already provided the relevant information in any other report , it may provide the reference to the same in its integrated report in order to avoid duplication.
• Companies may also host the integrated report on their website and provide its reference in the annual report. 

For more information, click here.

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