• Dr. KALAVATHI K

This paper presents both challenges and benefits of IFRS Adoption in India from stakeholders’ point of view. Main stakeholders such as ICAI, ASB, Business Entities, Shareholders, Government, Stock Markets and Accounting and Auditing professionals face numerous challenges in shifting from one accounting standards and practices to another accounting procedure and practices. The process of changing an accounting practice is not appeared to be an easy task, as it involves many aspects mainly convergence of the native accounting standards to new global set of standards that demands continuous work by concerned authorities and study of the implications of new set of standards. In this regard, in India, the Institute of Chartered Accountants of India (ICAI) took the responsibilities of convergence and completed it satisfactorily within stipulated time period and suggested phase wise implementation date. Still the country could not able to meet its original implementation schedule. These factors are highlighted in the paper.

IFRS Adoption, Challenges, Stakeholders of IFRS adoption, Benefits of IFRS

"A Study on Challenges and Utilities of IFRS Adoption from stakeholders’ perspective", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.8, Issue 12, page no.c212-c224, December-2021, Available :http://www.jetir.org/papers/JETIR2112227.pdf

"A Study on Challenges and Utilities of IFRS Adoption from stakeholders’ perspective", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.8, Issue 12, page no. ppc212-c224, December-2021, Available at : http://www.jetir.org/papers/JETIR2112227.pdf