https://www.taxtmi.com/news?id=30035 Guidance focuses on auditor-Audit Committee communication about Expected Credit Losses under Ind AS 109, stressing that ECL requires probability weighted, time discounted estimates incorporating historical data, current conditions and forward looking scenarios. It highlights scope (loans, receivables, investments, commitments), significant management judgement and expert involvement, the need for appropriate stratification and controls testing, assessment of management bias, verification of related party exposures, and evaluation of model assumptions, experts' competence and sufficiency of audit evidence. en-us Sat, 11 Jan 2025 11:08:36 +0530 Wed, 11 Feb 2026 16:00:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=30035 Guidance focuses on auditor-Audit Committee communication about Expected Credit Losses under Ind AS 109, stressing that ECL requires probability weighted, time discounted estimates incorporating historical data, current conditions and forward looking scenarios. It highlights scope (loans, receivables, investments, commitments), significant management judgement and expert involvement, the need for appropriate stratification and controls testing, assessment of management bias, verification of related party exposures, and evaluation of model assumptions, experts' competence and sufficiency of audit evidence. News - Sat, 11 Jan 2025 11:08:36 +0530 https://www.taxtmi.com/news?id=30035