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    02
    Nov
    ,

    California Climate Disclosure Legislation

    In 2023, California passed two climate disclosure and financial reporting laws, SB 253 and SB 261, which will require firms of certain sizes that conduct business in the state to assess and report on climate-related considerations, including greenhouse gas (GHG) emissions figures and material financial risks related to climate. ESG and climate-related disclosures have come into focus for companies and policymakers as stakeholders increasingly recognize climate-related impacts on businesses.
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    16
    Oct
    ,

    Implementation of Ind AS by banks in India

    In 2023, the RBI issued a DP on provisioning per the ECL approach, which was largely acknowledged as a paradigm shift in how banks in India were required to provide financial assets like loans and investments. In response to comments received from stakeholders, the RBI issued a press release on 04 October 2023 and announced the constitution of a working group for independent inputs on technical aspects of ECL. While the final directions on ECL-based provisioning are awaited, the RBI issued final directions on the Classification, Valuation, and Operations of Investments on 12 September 2023. The issuance of revised directions on the classification, valuation, and operations of investments marks a significant shift in the financial reporting requirements of banking entities.
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    12
    Oct
    ,

    Private Fund Adviser (PFA) Rules

    In an ever-evolving regulatory landscape, changes to reporting requirements play a pivotal role in shaping how the investment industry operates. The Securities and Exchange Commission’s (SEC) issuance of new private fund adviser rules and amendments under the Investment Advisers Act 1940 marks a significant transformation in the regulation of private fund advisers. These rules are designed to address longstanding challenges and concerns in the private fund industry, aiming to safeguard the interests of investors while fostering greater transparency, governance, and fairness.
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    21
    Sep
    ,

    RBI – Inv Directions for Banks

    Commercial banks' regulatory guidelines on the classification and valuation of investment portfolios are primarily based on a framework introduced in October 2000, drawing upon the prevailing global practices and standards. Given significant developments in international reporting standards on classification, measurement, and valuation of investments, the RBI felt a need to review and update the existing norms. A discussion paper on this subject was issued for public comments on 14 January 2022.
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    14
    Aug
    ,

    BRSR Core assurance and value chain disclosures

    The Securities and Exchange Board of India (SEBI), on 12 July 2023, issued a circular (the circular) establishing new regulations to augment the reporting of Environmental, Social, and Governance (ESG) performance of the listed entities by integrating assurance and value chain disclosures. The SEBI’s focus in this area aligns with its objective to protect the interests of investors. Investors increasingly apply ESG parameters to their analysis to identify material risks and growth opportunities. This is because the investors believe that a purpose-led organization usually has a sound and resilient business model. With the growing importance of ESG, communicating what a company does in ESG is paramount.
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    28
    Jul
    ,

    Platform development and technology costs

    Recently, there has been a significant increase in companies making material investments in platform development and technology costs. How a company accounts for such costs, i.e., whether they are expensed or capitalized, can significantly impact the reporting company's operating results. In most cases, the decision about which costs need to be capitalized and which costs need to be expensed is subject to critical evaluation of accounting literature and application of accounting judgments.
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