The opinions contained in this compilation are of the competent Committees constituted by the Council of the Institute and are of operational nature and not on issues on which relevant laws and rules are not explicit. These “Selected Opinions” are not a compendium of “legal advice”.
The opinions issued by the Committees to the members’ queries are dated. Since an opinion is arrived at on the basis of the facts and circumstances of each individual query, it may change if the facts and the circumstances change. An opinion may also change due to subsequent developments in law, pronouncements made by the Institute and other relevant changes. The Institute and the Committees will have no liability in connection with such opinion.
In every case the members have to take their own decisions in the light of facts and circumstances in accordance with related laws and rules etc., applicable to the issue under decision at that point in time.
Accounting
21.1.01 Application of IAS 39 to Directors’ Interest Free Loans
21.1.02 Clarification On Deferred Tax
21.1.03 Clarification On Amortization Of Director’s Loan
21.1.04 Accounting For Investments Of Provident Fund Trust
21.1.05 Accounting Treatment Of Accrued Markup Liability
21.1.06 Deferred Tax Clarification
21.1.08 IFRS 10 Exemption from Consolidation
21.1.09 Technical Opinion on IAS 26
21.1.10 Accounting treatment of “Workers Profit Participation Fund”
21.1.11 Query on TR – 32 ‘Director’s Loan’
21.1.13 Query on Consolidation
Auditing
21.2.01 Indebtedness of Auditors