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Once a company follows Ind AS, voluntarily or mandatorily, can it revert to the old method?

AYes, after three years
BNo, it cannot revert
CYes, after listing
DYes, with ICAI approval
Answer & Solution
Correct answer: B. No, it cannot revert
Adoption of Ind AS is a one-way step; the rules do not allow going back to the earlier accounting method.
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Related questions
Companies with Rs 500 crore net worth were mandatorily covered from:Under IFRS 1, adjustments from using a different earlier GAAP are recognised directly in:The December 2010 amendment to IFRS 1 guided entities emerging from:The restructured version of IFRS 1 was issued on:IFRS 1 was first issued in which month and year?Which body issued IFRS 1, the model for Ind AS 101?Ind AS 101 was notified by the MCA vide G.S.R. 111(E) dated:Which two exemptions did Ind AS 101 add beyond IFRS 1?