The Society of Auditors, Chennai is India's oldest body of professionals in the accounting & attestation and is senior even to the accounting regulator of the country viz., ICAI nearly by a generation.
The best known names in the Indian accounting professional arena from this part of the country were not only instrumental in the formation of the Society but also in nurturing it to ensure its steady and influential presence to an extent that the body was a precursor and a trendsetter for many such organisations to germinate, grow and flourish across the country. The Society itself was a persuasive force to the Government of India to even formulate the Institute of Chartered Accountants of India under an Act of Parliament in 1949.
The Society is a sagacious, perspicacious and a serene body that has a wealth of experience behind it, thanks to the several doyens and veterans of yesteryears which the current generation is making effective use of - in conjunction with the modern and futuristic tools of learning and dissemination of knowledge. With a hoary past and a vibrant present, the Society is gloriously nearing its nineties.
Even though a nonagenarian organisation, paradoxically enough, with each passing year of the society, the average age of the members is actually going down, as more of the younger members are enthusiastically participating in carrying on the mantle.
Specific mention needs to be made of the way in which the distressing time of Covid 19 lockdown was effectively converted in to a knowledge augmentation opportunity with a series of webinars arranged by the young turks of the Society, with many members eagerly and interactively participating in them.
The Society of Auditors was formed in the pre-independence era, circa 1927 as an informal group of well-known and respected accounting professionals, then known as Registered Accountants. Th same was formally registered as a Society in 1932 (mind you, we are calculating Society’s age only from its formal birth!) and was the only body of accounting professionals (including the wannabe ones) that was a connect between the profession and the Government.
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| “Latest Amendments to IND-AS : an Update"
Speaker: CA. Prateek Mankad | 19th September 2025 (Friday) at 04.00 PM to 5.00 PM (Zoom Video Conference) |
Meeting Link : Click Here Meeting ID: 848 5246 5296 Passcode: 241484 About the Subject: The Ministry of Corporate Affairs has amended the IND-AS twice in the past few months. These amendments may have an impact on Companies' reporting even as early as the Half-Yearly results as at 30 September 2025 and also potentially impact entities that are in the process of listing and preparing restated financial statements. Key amendments include response to address any lack of exchangeability for exchange rates, treatment of supplier finance arrangements, treatment of deferred tax and disclosures related to Pillar Two Global Tax Reforms as well as addressing the initial carve outs relating to classification of borrowings wherein covenants are breached. These amendments align IND-AS closer to IFRS. The learned Speaker will give us an overview fo these amendments, the key implications, reporting requirements and other actionable matters including guidance on how these changes in accounting policies need to be addressed and disclosed in the financial statements. About the Speaker: Prateek has a PGPM from IIM, Bangalore apart from being a Chartered Accountant. He has had extensive experience in Financial Reporting advisory, Auditing listed NBFCs and banks. Earlier, he has over a decade experience in a Big-4 Firm. He has also been facilitating the Training requirements of fellow professionals through various forums. He trained over 40 Companies' executives and is a Trainer in "Diploma in IFRS" & many IND-AS workshops. He has trained staff at Indian Banks' Association, National Institute of Bank Management and at a Securitization Summit. Currently, Prateek is the co-founder of World of Financial Reporting, a firm focused on financial reporting and Ind AS related advisory. |
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