alleryStart learning →Who sets the Ind AS date for banks and insurance companies?
AThe ICAI Council alone
BTheir respective regulators
CEach company's own board
DThe stock exchanges only
Answer & Solution
Correct answer: B. Their respective regulators
Regulators of banks and insurers notify their own implementation dates separately.
Keep practising Introduction to General Purpose Financial Statements: Ind AS Applicability and Schedule III Division II
Browse all Introduction to General Purpose Financial Statements: Ind AS Applicability and Schedule III Division II questions for CA Final, or explore more Financialreporting topics.
Related questions
Under the accrual basis, an item is recognised when it meets what?Cash flows that change the size of contributed equity and borrowings are classed as what?Cash flows from acquiring and disposing of long-term assets are classed as what?Under IAS 1, how are items of dissimilar nature shown?IAS 1 says presentation and classification should do what?IAS 1 requires a complete set of financial statements at least how often?IAS 1 says assets and liabilities must not be offset unless what?A complete set of IFRS statements includes which of these?