The Institute of Chartered Accountants of
India (ICAI) is seeking feedback on two proposed standards –
Accounting Standard (AS) 36 Accounting and Reporting by Retirement
Benefit Plans and AS 33 Share-based Payment.
AS 36 corresponds with the international
standard IAS 26. The standard would apply to the financial
statements of retirement benefit plans, which are arrangements
where an entity provides benefits for employees on or after
termination of service and when such benefits can be determined or
estimated in advance of retirement.
AS 33 corresponds with IFRS 2. The standard
specifies the financial reporting by an entity when it undertakes a
share-based payment transaction.
In particular, it requires an entity to
reflect in its profit or loss and financial position the effects of
share-based payment transactions, including expenses associated
with transactions in which share options are granted to
The deadline for comments on both proposals is
11 June 2010.