alleryStart learning →A mandatory Ind AS company later sees its net worth fall below Rs 250 crore. It?
AMay revert to old AS
BMust continue with Ind AS
CMay revert on delisting
DMay revert after 5 years
Answer & Solution
Correct answer: B. Must continue with Ind AS
Rule 4(9) requires continued Ind AS reporting even if the criteria later stop applying.
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Related questions
Under Rule 4, Ind AS binds companies in preparing statements and auditors in what?A small associate of a first-phase company must apply Ind AS from?A company in the process of listing has net worth of Rs 600 crore. Ind AS from?An unlisted entity with the minimum Rs 250 crore net worth begins Ind AS on?At precisely Rs 500 crore net worth, an unlisted entity adopts Ind AS beginning when?ICAI, which houses the Accounting Standards Board, was formed under what?The ICDS notified in February 2015 relate to what?Before Ind AS, Indian companies followed which accounting framework?