New a/c standard deadline may not be feasible

Times of India 17/03/2009

Sai Venkateshwaran , partner & IFRS practice leader in consultancy firm Grant Thornton India, said, “ In addition to consulting for IFRS , another 40,00 CAs are required in the auditing and accounting space of IFRS . So there is a minimum requirement of over a lakh of IFRS aware CAs , a gap which can be bridged at least in the next two years.” The recent Grant Thornton study “India Inc’s readiness for change to IFRS” interviewed 300 companies across size, segments and found that as much as 97%of the respondents are concerned about this shortage. http://www.wcgt.in/assets/coverage/170309/TOI_170309_Pg13_Blore.jpg