This document discusses IFRS (International Financial Reporting Standards), the challenges of implementing IFRS in India, and the benefits of convergence. Some of the key challenges mentioned include shortage of resources like accountants, need for extensive training, modifications to IT systems, impact on taxes and tax treatment, managing expectations during reporting changes, and ensuring compatibility with local regulations. The conclusion states that while a single set of global standards is desirable, full convergence faces challenges and stakeholders need to be informed of changes.

1. IFRS: Challenges Ahead Proffessor Kirit Makwana & Dr.(Mrs.) Meenakshi Somani Presented By