Ind As Implementation Roadmap | Professionals Ind AS Phase 2 (2017): Applicability & Current Status

Let's move on to Phase 2, which officially began on April 1st, 2017. For listed companies, any of the remaining entities—meaning those with a net worth of less than 500 crores—had to transition to Ind AS starting from this specific date. Now, regarding unlisted companies, those with a net worth below 500 crores, but equal to or greater than 250 crores, were mandated to become Ind AS compliant. This rule also applied to their holding, subsidiary, associate, and joint venture companies. You’ll notice an interesting outcome. From April 1st, 2017 onwards, every listed company, regardless of its net worth, had to be Ind AS compliant. The larger ones were compliant since 2016, but now all were covered. For unlisted companies, only those with a net worth of 250 crores or more had to comply. What is the scenario today? If you're watching this in 2026, all listed companies and unlisted companies with a net worth of 250 crores or more are already compliant. #IndAS #IndASPhase2 #AccountingStandards #ListedCompanies #UnlistedCompanies #CorporateCompliance #NetWorth