The Classic Partners LLP

Conversion to Ind-AS / IFRS

Ind-AS and IFRS conversion services in India. We convert your financial statements from existing standards to Ind-AS or IFRS — handling the technical adjustments, disclosures and comparatives — so your reporting meets the required framework.

Talk to an Ind-AS / IFRS Expert

What is Conversion to Ind-AS / IFRS?

Conversion to Ind-AS or IFRS is the process of restating financial statements prepared under one framework into Indian Accounting Standards (Ind-AS) or International Financial Reporting Standards (IFRS). It involves identifying differences in recognition, measurement and disclosure, making the required adjustments, and preparing compliant statements with comparatives.

Conversion builds on clean, well-organised books, so it pairs with accounting review and financial reporting and MIS. For overseas-linked groups, it often accompanies our offshore accounting work.

Who Should Convert to Ind-AS / IFRS?

Companies required to report under Ind-AS or IFRS.
Businesses crossing thresholds that trigger Ind-AS.
Subsidiaries of foreign parents reporting in IFRS.
Companies preparing for listing or overseas funding.
Groups consolidating across different frameworks.

Our Conversion to Ind-AS / IFRS Services

Gap Assessment

Identifying differences from your current framework.

Adjustment Workings

Preparing recognition and measurement adjustments.

Disclosure Drafting

Drafting the disclosures the standards require.

Comparatives

Restating prior periods for comparability.

Conversion Statements

Producing compliant Ind-AS or IFRS statements.

Audit Support

Supporting your auditors through the conversion.

Why Choose The Classic Partners

Technical accuracy on complex adjustments.
Complete disclosures and comparatives.
Audit-ready output from day one.
Smooth coordination with your auditors.

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Frequently Asked Questions

What is conversion to Ind-AS or IFRS?

It is restating financial statements from one framework into Indian Accounting Standards or International Financial Reporting Standards, including the required adjustments, disclosures and comparatives.

When is Ind-AS or IFRS conversion required?

It is typically required when a company crosses prescribed thresholds, is a subsidiary of a foreign parent reporting in IFRS, or is preparing for listing or overseas funding; the exact trigger depends on your situation.

What is the difference between Ind-AS and IFRS?

Ind-AS are India's accounting standards converged with IFRS, with certain carve-outs and modifications, while IFRS are the international standards; the conversion approach is similar but the specifics differ.

Do you prepare comparatives as part of conversion?

Yes. Conversion includes restating prior periods so the financial statements are comparable under the new framework.

Will the converted statements be audit-ready?

Yes. We prepare adjustments, workings and disclosures to be audit-ready and support your auditors through the conversion.

How long does a conversion take?

It depends on the size and complexity of the business and the number of differences involved; we scope a timeline after a gap assessment.

Need to report under Ind-AS or IFRS?

Get an accurate, audit-ready conversion with all adjustments and disclosures handled.