The weekly messenger | Edition 21.22
This newsletter is a weekly compilation of accounting, auditing and related regulatory news from different accounting and regulatory bodies in India and overseas.
Accounting News
Technical Guide on Financial Statements of LLPs – 27 June 2022
The Institute of Chartered Accountants of India (ICAI) has issued the ‘Technical Guide on Financial Statements of Limited Liability Partnerships (LLPs)’ to assist and guide the preparers for preparation and presentation of the financial statements.
For more information, click here.
Educational Material on Ind AS 34 Interim Financial Reporting – 4 July 2022
The ICAI has issued an Educational Material on Ind AS 34, ‘Interim Financial Reporting’, in order to provide guidance by way of FAQs and illustrations explaining the principles enunciated in the aforesaid standard.
For more information, click here.
Regulatory News
Further relaxation in paying additional fees in case of delay in filing Form 11 (Annual Return) by LLPs – 29 June 2022
Due to transition from version-2 of MCA-21 to version-3 and to promote compliance on part of LLPs, the Ministry of Corporate Affairs (MCA) had earlier extended the timeline for filing e-form 11 (Annual Return of LLP) by the LLPs for the FY 2021-2022 till 30 June 2022.
Now, the aforesaid date has been further extended till 15 July 2022.
For more information, click here.
Disclosure of holding of specified securities and Holding of specified securities in dematerialized form – 30 June 2022
The Securities and Exchange Board of India vide its Circular dated 30 November 2015 (as amended) had prescribed the formats for disclosure of holding of specified securities and shareholding pattern.
Now in the interest of providing further clarity and transparency to the investors in the securities market, the aforesaid Circular has been partially modified with the following key amendments:
- Clause 2(d) of the Circular has been amended as under:
- In the disclosure of public shareholding, names of the shareholders holding 1% or more than 1% of shares of the listed entity is to be disclosed.
- Names of the shareholders who are persons acting in concert, if available, shall be disclosed separately.
- It is also specified that all listed entities shall disclose details pertaining to foreign ownership limits in the format prescribed at Annexure B to this Circular.
The Circular shall come into effect from the quarter ending 30 September 2022.
For more information, click here.