IFAC President Tidstrom to visit Delhi next week

K. R. Srivats | | Updated on: Oct 24, 2012

International Federation of Accountants (IFAC) President Goran Tidstrom is slated to visit India early next week.

Tidstrom will be in Delhi for a two-day official visit beginning Monday next, sources in the CA Institute, a member of the IFAC, said.

Besides meeting Corporate Affairs Minister Veerappa Moily, Tidstrom is also likely to meet the Comptroller and Auditor General of India Vinod Rai.

Tidstrom, who will serve as IFAC President until November, is also expected to visit the office of the Controller General of Accounts in the Capital.

His visit comes at a time when there is still uncertainty on whether India will usher in international financial reporting standards (IFRS) from April 1 next year.

India is only looking to converge with IFRS and not adopt them. Already, India has postponed the timeline for its planned convergence with IFRS. The country was earlier looking at April 1, 2011 as the initial date for the convergence.

The CA Institute – Institute of Chartered Accountants of India – is a member body of the IFAC, which is a global organisation for the accountancy profession.

IFAC comprises 167 members and associates in 127 countries and jurisdictions, representing about 2.5 million accountants in public practice, education, Government service, industry and commerce.

Published on October 24, 2012
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