India Inc has its way, IFRS put off
By Ali Ahmad The Indian government today postponed the convergence of Indian accounting standards with the international standards, thanks to the relentless lobbying by corporates, and unresolved taxation issues. Although many observers already predicted this delay. According to Indian Express, the Indian government wanted to converge with the International Financial Reporting Standards (IFRS) from April 1, 2011 in a phased manner. However, corporates had been lobbying hard to defer