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Indian CFOs for global accounting standards

Indian CFOs for global accounting standards
PTI
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First Published: Tue, Apr 03 2007. 02 34 AM IST
Updated: Tue, Apr 03 2007. 02 34 AM IST
NEW DELHI: India Inc.’s top financial professionals want the present accounting norms to be aligned with either the International Financial Reporting Standards (IFRS) or the US Generally Acceptable Accounting Principle (GAAP).
While 64% of the surveyed chief financial officers (CFOs) favoured alignment with IFRS, another 31% favoured US GAAP, says a survey done by global consultancy firm Ernst & Young.
“Adoption of IFRS will increase transparency and make financial statements more comparable,” Ernst & Young India director R. K. Agrawal said.
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First Published: Tue, Apr 03 2007. 02 34 AM IST
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