 "Investors will pay premium for comparable financials: Dipak Bohra")
It helps when accountants speak a common accounting language, facilitating cross-border economic activity. Also, global investors are willing to pay premium valuations for comparable financials.
I do not see any major challenge faced by large IT companies in India, as they are already publishing their statements in IFRS/US GAAP. Indian IT companies will face a challenge, in terms of additional disclosure requirements in revenue contracts, as they will have to reorient/reconfigure their IT systems to report such data. However, companies currently on the Indian GAAP platform will have to undergo changes in their reporting, disclosures and build their back-end system/process to support the enhanced reporting requirements. We are hardly left with seven months to achieve this.
I do not see any major challenge faced by large IT companies in India, as they are already publishing their statements in IFRS/US GAAP. Indian IT companies will face a challenge, in terms of additional disclosure requirements in revenue contracts, as they will have to reorient/reconfigure their IT systems to report such data. However, companies currently on the Indian GAAP platform will have to undergo changes in their reporting, disclosures and build their back-end system/process to support the enhanced reporting requirements. We are hardly left with seven months to achieve this.
Dipak Bohra
Senior vice-president (global controller), Wipro
Senior vice-president (global controller), Wipro