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The January 2014 edition of the Accounting and Auditing Update focuses on the pharmaceutical sector and provides insights into accounting issues relating to companies operating in the generics space. We also cover the complex area of hedge accounting with its accounting challenges and examine the IASB’s new hedge accounting rules (IFRS 9). Continuing with our series of articles on the Companies Act, 2013, we have included in this issue an article highlighting role and responsibilities for directors and those in positions of governance. The issue also highlights the implications of the U.K. Bribery Act.
This month, we also have covered some interesting practical aspects relating to the identification of and reporting obligations concerning related party transactions for Indian companies and an overview of the key regulatory developments during the recent past including the considering the practical application of an EAC opinion regarding the amortisation of ‘right of way’ intangible assets.