CAIRR Update March 30, 2022

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CAIRR Update March 30, 2022

March 30, 2022
Summary of the notifications issued by MCA and IBBI on 23/03/2022 and 29/03/2022 respectively
MCA amends Companies (Indian Accounting Standards) Rules, 2015 w.e.f 01/04/2022
The following standards are amended to give effect to the Annual Improvements to IndAS (2021) and the Conceptual Framework for Financial Reporting under Indian Accounting Standards (Ind AS), issued by the Institute of Chartered Accountants of India, details of which can be viewed in the hyperlinked notification – Ind AS 101(First time adoption of IndAS), 103 (Business Combination), 109 (Financial Instruments), 16 (Property, Plant and Equipment), 37(Provisions, Contingent Liabilities and Contingent Assets) and 41 (Agriculture).
IBBI permits online delivery of educational courses and Continuing Professional Education(CPE) by Insolvency Professional Agencies(IPAs) and Registered Valuers Organisations (RVOs) till 30/09/2022
IBBI has permitted Insolvency Professionals(IPs), Registered Valuers and prospective IPs to undergo online classes delivered by IPAs and RVOs, to enable them fulfill the requirements w.r.t pre-registration educational course, CPEs under IBC, 2016, its Regulations, and Companies Act, 2013 and its Rules, by extending the validity of its guidelines on online delivery of classes by IPAs and RVOs till 30/09/2022 (from its earlier extended deadline of 31/03/2022)
These notifications are integrated in our free to use website

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