Implementing IFRS from the perspective of public sector banks in India

• Main Authors: Dhankar, Raj S., Chakladerb, Barnali, Guptac, Amit
• Format: Conference or Workshop Item
• Language: English
• Published: 2015
• Subjects: HF5601 Accounting
• Online Access: http://repo.uum.edu.my/17578/1/238-ICAS2015%20238-251.pdf; http://repo.uum.edu.my/17578/; http://www.icas.my/index.php/proceedings/3-icas-2015-proceedings/122-implementing-ifrs-from-the-perspective-of-public-sector-banks-in-india

This study examines the perception of Public Sector Banks in India towards the implementation of IFRS.The paper provides insights into the IFRS adoption process based on a questionnaire sent to Public Sector Banks in India in 2015. The 291 responses received indicates: (1) Loan Impairment will affect the bank’s financial performances; (2) transparency of the results of the Banks will be increased; (3) global operations of the Banks will be impacted in positive direction; (4) the accessibility of the Global Capital Market will increase; (5) corporate governance aspect of the banks will increase; (6) the quality of financial information provided to the regulators and shareholders will improve; (7) the comparability aspect of financial statements will increase; (8) market capitalization of banks will improve; (9) the training needs of the staff will increase; (10) the opportunities for the accounting professionals will expand; (11) the flow of FDI in the banking sector will increase