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of <h1>Indian Companies Must Adhere to Ind AS Rules, 2015; Compliance Based on Net Worth and Listing Status</h1> Companies and their auditors must adhere to Indian Accounting Standards (Ind AS) as specified in the Companies (Indian Accounting Standards) Rules, 2015. Compliance is phased based on net worth and listing status, with specific dates set for different categories of companies and Non-Banking Financial Companies (NBFCs). Companies with a net worth of 500 crore or more, listed companies, and their affiliates must comply from 2016, while those with lower net worth thresholds follow in subsequent years. Once a company adopts Ind AS, it must continue using these standards for all future financial statements. Companies opting for Ind AS voluntarily must maintain consistency and cannot revert to previous standards.
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