Archive · 28 Dec 2025
ICAI Chief: Companies Face Increased Liability in Dec Quarter
The head of the Institute of Chartered Accountants of India (ICAI) has said that companies will need to recognize increased liability in the December quarter.
A new standard will start from January 1, 2027, and will make it easier for subsidiaries that are part of larger companies to follow rules.
This change aims to make things simpler and follow global best practices.
The ICAI Council will look at feedback from the public and decide how to put this standard into action.
Companies must recognize increased liability in the December quarter.
New standard applicable from 1 January 2027.
Aims to reduce compliance requirements for subsidiaries with consolidated accounts.
Follows global best practices under Ind AS.
ICAI Council will deliberate on feedback and decide on implementation.
- Who
- ICAI (Institute of Chartered Accountants of India) chief
- What
- Companies must recognize increased liability in the December quarter
- When
- Standard applicable from 1 January 2027
- Where
- India
- Why
- To reduce compliance requirements for subsidiaries and follow global best practices
- Effective Date
- 1 January 2027
- Standard Applicability
- Subsidiaries with consolidated accounts
- Compliance Requirement
- Reduced for subsidiaries
- Global Practices
- Follows Ind AS best practices
- Decision Making
- ICAI Council will deliberate on feedback