Resumen de Convergence Of Ind AS: Challenges and Benefits in Implication of Accounting Standards

Pitchandi Sandhiya Priya, Muralikrishna Muthumeenakshi

• Purpose:The aim of this study is to Examinethe awareness level of challenges and benefits among qualified Chartered Accountants and accounting professionals Theoretical reference:The theoretical framework for the studyis to analyse the awareness level of Chartered Accountants towards the benefits and challenges of Ind AS.

  Method:Thestructured questionnaire of 5 levels Likert scale has been used in June 2023 for the collection of data. The hypotheses were tested by measurement model and structural equation model using Smart PLS 4.0 Software.

  Results and conclusion: The findings reveal that there is an awareness among Audit practitioners and accounting professionals through experiencing the benefits and challenges after the conversion with Ind AS.

  Implications of research:The study allows the auditors and Chartered Accountants to educate themselves towards the level of contribution, challenges, benefits and the new changes occurring around them Originality/value:The article contains awareness-creating content that allows audit practitioners and chartered accountants to get aware of the benefits and challenges on and after adoption of New Accounting Standards in India.