IFRS/IND-AS Audit
Audit of financial statements prepared under Ind AS or IFRS — recognition, measurement and disclosure tested against the standards.
- Estimate Cost
- ₹1,00,000 – ₹10,00,000
- Typical duration
- 20 days
Service overview
Reviewing and auditing financial statements prepared under IFRS or IND-AS accounting standards.
Who needs it? / When is it needed?
Companies mandated to transition or report under international or Indian Accounting Standards.
What to expect from the WCP Professionals
Technical standard compliance check, valuation review, and financial statement audit.
Key deliverables
Audited financial statements, IND-AS transition report, and compliance notes.
Standard turnaround time
10 to 20 working days.
Government fees, timelines & key outcomes
No government fee for the audit.
Ind AS applies to listed companies, companies with net worth of ₹250 crore or more, and their holding, subsidiary and associate companies; IFRS reporting is typically required for foreign parents or overseas listings.
Key outcomes: an audit opinion on Ind AS or IFRS financial statements accepted by regulators, group auditors and investors.
Forms & filings involved
IND-AS financial disclosure checklists and audit schedules.
Documents required
Trial balance, valuation reports, financial ledgers, and prior accounting records.
What we need from you
Management clarifications, accounting policy details, and data access.
Important conditions
Subject to availability of compliant valuation and financial schedules.
Additional information
Enhances global credibility and investor confidence in corporate reporting.
The estimated cost covers indicative professional fees only. Government fees, stamp duty and taxes are payable at actuals.
How it works
- 1. Raise a service enquiry describing your requirement.
- 2. A Relationship Manager reviews it and opens it for bidding.
- 3. Pay into escrow and assign the professional you select.
- 4. Track progress to completion, then accept and release payment.
Frequently asked questions
Which companies follow Ind AS?
Listed companies, companies with net worth of ₹250 crore or more, and their holding, subsidiary and associate companies; others may adopt it voluntarily.
What is the difference between Ind AS and IFRS?
Ind AS is converged with IFRS but has India-specific carve-outs; a group reporting package for a foreign parent may need full IFRS.
What makes an Ind AS audit different?
Greater use of fair value, expected credit loss, lease accounting and judgement-heavy estimates, which need specialist testing.
Can a company move back from Ind AS?
No. Once a company adopts Ind AS, it must continue to follow it.