WEB Guidance Note on Division II - Ind AS Schedule III to the Companies Act 2013 issued by CLCGC ICAI

24-01-2022

The Companies Act 2013 (the Act) in Schedule III, provides for the format of the financial statements to be prepared by the companies falling within the ambit of this requirement. The said Schedule III has been divided into two Divisions – Division I and Division II based on the size of the company.

Pursuant to the powers conferred under section 467 of the Act, the Central Government has recently issued a Guidance Note (the Guidance Note) on Division II of Schedule III to the Act.

The Guidance Note was issued by the Committee on Large Complex Group of Companies (CLCGC), constituted by The Institute of Chartered Accountants of India (ICAI) and has been made applicable with effect from 24-01-2022.