ICAI Releases Exposure Draft on Amendments to Ind AS for Classification and Measurement of Financial Instruments
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- By Chetan Kulasri
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- Last Updated on 26 September, 2024
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The Accounting Standards Board (ASB) of the ICAI has released an Exposure Draft of amendments to Indian Accounting Standards (Ind AS) to align with recent changes to IFRS by the IASB. Key revisions to Ind AS 109 and Ind AS 107 focus on the classification and measurement of financial instruments, including guidelines for retrospective application, non-restatement options, disclosure requirements for changes in measurement categories, and provisions for carbon emissions-linked financial instruments. The draft also clarifies the treatment of financial liabilities settled through electronic payment systems. Stakeholders are invited to provide feedback on the proposed amendments, effective from April 1, 2026, by October 23, 2024.
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