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Reporting Principles04The financial and statutory data disclosed in this Report is in line with the requirements14of the Companies Act, 2013; Indian Accounting Standards; the Securities and ExchangeMission

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How to fill out non-compliance with accounting standards

01

Identify the specific accounting standards that are not being followed.

02

Determine the reasons for the non-compliance with accounting standards.

03

Develop a plan to address and rectify the non-compliance.

04

Implement changes to ensure future compliance with accounting standards.

05

Document all steps taken to address the non-compliance.

Who needs non-compliance with accounting standards?

01

Companies or organizations that are required to adhere to accounting standards.

02

Regulatory bodies or authorities that oversee financial reporting.

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What is non-compliance with accounting standards?

Non-compliance with accounting standards refers to failing to adhere to the established rules and guidelines set by recognized accounting bodies, leading to inaccurate or misleading financial statements.

Who is required to file non-compliance with accounting standards?

Entities such as publicly traded companies, financial institutions, and any organization required to report financial information to regulators are required to file non-compliance with accounting standards.

How to fill out non-compliance with accounting standards?

To fill out non-compliance, organizations must provide detailed descriptions of the instances of non-compliance, the reasons for it, and the implications on financial statements, usually in a designated report format.

What is the purpose of non-compliance with accounting standards?

The purpose of reporting non-compliance with accounting standards is to ensure transparency, maintain trust with stakeholders, and to inform regulatory bodies about significant deviations from required accounting practices.

What information must be reported on non-compliance with accounting standards?

Entities must report the nature of the non-compliance, the financial impact, any corrective actions taken, and potentially the reasons for the lapse in compliance.

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