Application of IFRS/Ind AS in Indian Public Sector Banks: An Analysis

摘要

This study examines the perception of Public Sector Banks in India towards the implementation of IFRS. The paper provides insights into the IFRS adoption process based on a questionnaire sent to Public Sector Banks in India in 2015. The 291 responses received indicate: (1) Loan Impairment will affect the bank's financial performances; (2) transparency of the results of the Banks will be increased; (3) global operations of the Banks will be impacted in positive direction; (4) the accessibility of the global capital market will increase; (5) corporate governance of the banks will increase; (6) the quality of financial information provided to the regulators and shareholders will improve; (7) the comparability aspect of financial statements will increase; (8) market capitalization of banks will improve; (9) the training needs of the staff will increase; (10) the opportunities for the accounting professionals will expand; (11) the flow of FDI in the banking sector will increase.