Ind AS 113 Compliance – Fair Value Determination Beyond Book Value for Unquoted Equity
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- By Taxmann
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- Last Updated on 18 November, 2024
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Accurate fair value measurement is crucial for ensuring transparency and compliance in financial reporting, particularly for unquoted equity investments. This document explores a case where a state-owned NBFC classified its investment in unquoted equity shares under FVTOCI and used the book value method to determine fair value.
The auditor raised concerns about this approach, flagging it for non-compliance with Ind AS 113 and emphasizing the need to follow prescribed valuation techniques. The document highlights the fair value hierarchy, various valuation methods, and the importance of both observable and unobservable inputs to ensure accurate and compliant financial reporting.
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