Fair Financial Reporting Advisors

29/06/2024

Exciting News in the World of IFRS!

The International Accounting Standards Board (IASB) has issued a new IFRS -IFRS 19 " Subsidiaries without public accountability: disclosures", which promises significant relief for subsidiaries preparing IFRS financial statements for consolidation purposes.

This new standard is a game-changer for many organizations, reducing the cost and effort as subsidiaries no longer need to prepare two sets of accounts for group reporting purposes. This change will help organizations streamline their financial processes and allocate resources more effectively.

Our team has prepared a brief material on this new standard, detailing its key features and the anticipated benefits for subsidiaries. Feel free to reach out if you would like to learn more or discuss how this change might impact your organization.

Let's embrace this positive development and leverage it to drive greater efficiency in our financial reporting processes!
Nisha Suyal Aggarwal Dhiraj Suresh Aggarwal

17/06/2024

"NEW IFRS ALERT"

We are excited to share that the International Accounting Standards Board (IASB) has issued a new International Financial Reporting Standard (IFRS). This new standard will redefine financial performance reporting and will help in achieving comparability between similar entities' financial performances, ensuring more transparency and comparability in financial statements worldwide.
To help our community stay ahead of the curve, we have prepared a brief presentation on the new IFRS 18 which will replace IAS 1. This presentation will guide you through the key changes, implications, and how to best prepare for the upcoming reporting requirements.

In India, we follow the Indian Accounting Standards (IND AS), which are converged with IFRS. Therefore, we anticipate that an exposure draft reflecting similar changes will be released in the near future. It's crucial for all professionals involved in financial reporting to stay updated and be prepared for these changes.

We encourage all our connections to like and share this post with others who may benefit from this information. Let’s help each other stay informed and ready for the evolving financial reporting landscape!
Thank you Nisha Suyal Aggarwal for your inputs in this Presentation.

01/07/2023

We are elated to share that Our Principal Consultant Nisha Suyal Aggarwal was invited by North campus CA study Circle for to share her knowledge on “Compliance with on “ and “changes in applicability of .”

Nisha shared her vast knowledge and expertise with an engaged and captivated audience. She covered a range of concepts/topics like compliance with SA while auditing SME clients, materiality, documentation, Audit working papers and changes in Peer review applicability. She made the participants understand that “No documentation is no work”.

Participants were enthralled by her ability to communicate complex concepts in a simple and relatable manner, leaving them eager to implement the gained knowledge in their professional practise.

Nisha effortlessly connected with the audience by encouraging interactive discussions, asking thought-provoking questions, and utilizing her practical examples.

We are thrilled by the overwhelmingly positive feedback we received from participants.

16/02/2023

We are thrilled to announce that Our Principal Consultant, Nisha Suyal Aggarwal is recognised in “Professional Excellence” Category at the Young Ladies Organisation ( ) Member Awards held at New Delhi.

We are incredibly honoured to be recognized for our hard work and dedication towards our services.

We would like to extend our heartfelt gratitude to for this recognition.
This is a testament to our ongoing commitment to the best quality services for our clients and will continue to strive for excellence in all our endeavors and hope to build on this success in the future.

Taxpoint Consulting Private Limited

24/10/2022

May the light of Diyaas illuminate your hearts and homes with warmth, brightness and an abundance of happiness
🙏🏻Shubh Deepawali 🙏🏻

22/10/2022

Shubh Dhanteras!

25/01/2022

is considered as one of the most important underlying factors to improve corporate governance. In this direction, the Ministry of Corporate Affairs (MCA) has recently revised the Schedule III to the Companies Act, 2013 vide notification dated March 24, 2021 by introducing additional disclosure requirements in the financial statements to improve governance.
These amendments have significant disclosure requirements in the financial statements of the Company. Along with this, it also has a major impact on the as well as on the of the Company and are directed at enabling the higher level of for the companies.

Considering the need to provide guidance in view of the significant
amendments made in Schedule III to the Companies Act, 2013, The ICAI has undertaken the task of revising three Guidance Notes as below:

Guidance Note on Division I –Non Ind AS Schedule III to the Companies Act, 2013; Link to download:https://resource.cdn.icai.org/68981clcgc55147-gnd1.pdf
Guidance Note on Division II- Ind AS Schedule III to the Companies Act, 2013; Link to download:https://resource.cdn.icai.org/68982clcgc55147-gnd2.pdf
Guidance Note on Division III-NBFC that are required to comply with Ind AS; Link to download:https://resource.cdn.icai.org/68983clcgc55147-gnd3.pdf

14/12/2021

IASB finalises a narrow-scope amendment to IFRS 17

Background

13/12/2021

*IF NOT NOW, THEN WHEN..*

*Woollens Donation Drive*

This winter, spread the warmthness and contribute to make a difference in the lives of underprivileged and homeless people.

Donation categories:
Blankets, sweaters, jackets, warm clothes, gloves , old toys and stationeries for children.

A special mention to our Donors and Volunteers who has supported us in this drive in the past and made it a continuing success.

A snapshot into our woollens donation drive from 2020.
https://fb.watch/2wBlEpL_Cn/

Warm Regards,

Nisha Aggarwal
Secretary, Hetampuria Charitable Trust

D S Aggarwal
Treasurer, Hetampuria Charitable Trust

22/11/2021

What Is Financial Reporting?

13/10/2021

https://fairfinancialreporting.com/f/disclosure-of-ratios-in-financial-statements

The Ministry of Companies Affairs (MCA), Government of India, issued a notification dated March 24, 2021 to amend Schedule III of the Companies Act, 2013 to enhance disclosures required to be made by a Company in its Fin...

27/08/2021

https://fairfinancialreporting.com/f/basics-of-german-gaap

Introduction and framework