Ind AS transition and reporting support
Audit and assurance
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On demand
Ind AS transition requires supported opening balances, accounting decisions and comparatives before the first reporting date. TheTaxCo helps the finance team assess applicability, identify data gaps and prepare the transition adjustments and recurring reporting schedules.
The project starts with the reporting requirement. Statutory Ind AS adoption, a parent’s group reporting request and an investor’s transaction pack can have different scopes. We record the entity, periods, framework and required outputs before conversion work begins.
Establish the reporting basis
The applicability review considers the company and group structure, listing position, financial thresholds, sector and the relevant roadmap. Absence of a lender or investor request does not remove a mandatory statutory requirement. Equally, a group request does not automatically establish that the local entity must adopt Ind AS in its statutory accounts.
Once the first reporting period is identified, we establish the transition date and comparative information required. Ind AS 101 requires an opening Ind AS balance sheet at transition and consistent policies across the periods presented, subject to its specified exceptions and exemptions. Ind AS 101 in the notified standards.
The 2026 amendments include changes effective for annual periods beginning on or after 01-04-2026. Transition and recurring reporting for that period need the applicable amended requirements, including relevant financial-instrument and disclosure changes. Companies (Indian Accounting Standards) Amendment Rules, 2026.
Find the information the ledger does not hold
We review prior financial statements, accounting policies, contracts, group instructions and the trial balance. The data request follows the differences identified rather than asking for every document the business holds.
Area for assessment | Information that may be needed |
|---|---|
Leases | Contracts, payment schedules, extensions and discount-rate support |
Financial instruments | Contractual terms, repayment schedules, credit-risk evidence and valuations |
Revenue | Customer contracts, performance terms, modifications and cut-off records |
Employee benefits and share-based arrangements | Scheme terms, employee data and specialist valuation inputs |
Consolidation, combinations and tax | Ownership records, acquisition documents, reporting dates and tax bases |
These are review areas, not a claim that every business needs an adjustment in each category. The accounting conclusion follows the actual contract and applicable standard.
Make each adjustment reproducible
For each issue, the working paper records the previous treatment, relevant policy, evidence, calculation and effect on the statements and disclosures. Management approves the accounting decisions. Material judgments and specialist assumptions are discussed with the appointed auditor early, while preserving that auditor’s independent assessment.
The transition reconciliation distinguishes changes in accounting policy from errors in the earlier accounts. It links opening adjustments to comparatives and the first reporting period, so the team can explain the movement rather than present an unexplained balancing figure. Ind AS 101 also requires an explanation of the transition’s effects and the relevant equity and performance reconciliations. Ind AS 101, paragraphs 23–26.
Build the next reporting close
A transition workbook needs a repeatable update process. We identify the data owner, calculation frequency, review step and disclosure inputs for recurring items. The assessment also shows where the accounting system can produce the required information and where a controlled spreadsheet or system change is needed.
Our recurring support covers the required calculations, new-contract reviews, reporting-pack updates and queries from the appointed auditor. We distinguish this continuing reporting work from the initial transition and the independent statutory audit.
Deliverables and dependencies
The agreed outputs include an applicability or reporting-basis note, transition timetable, data-gap list, policy papers, opening and comparative reconciliations, adjustment register and reporting schedules. We draft the disclosures and support the recurring close, with valuation or actuarial work provided by the relevant specialists. A statutory audit opinion or specialist valuation follows its own professional appointment.
Timing depends on obtaining historic contracts, valuation or actuarial inputs and management decisions. A group reporting deadline may require work before the statutory close.
Related services
Email TheTaxCo, message us on WhatsApp or book a call. Include the proposed reporting framework, first reporting date, group structure and latest available financial statements.