https://www.taxtmi.com/article/detailed?id=15763 Audits repeatedly find failures in Ind AS implementation: absent enforceable contracts, misidentification of performance obligations, ignored variable consideration, timing errors in revenue recognition, off balance sheet lease treatment instead of recognising Right of Use assets, misuse of short term exemptions and wrong discount rates, misclassification of financial instruments under the business model and SPPI test, and omission of Expected Credit Loss provisions. Remedies emphasise training, documented judgments, contract review, technology adoption, and auditor focus on judgmental areas. en-us Sat, 24 Jan 2026 08:40:48 +0530 Sat, 24 Jan 2026 08:40:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=15763 Audits repeatedly find failures in Ind AS implementation: absent enforceable contracts, misidentification of performance obligations, ignored variable consideration, timing errors in revenue recognition, off balance sheet lease treatment instead of recognising Right of Use assets, misuse of short term exemptions and wrong discount rates, misclassification of financial instruments under the business model and SPPI test, and omission of Expected Credit Loss provisions. Remedies emphasise training, documented judgments, contract review, technology adoption, and auditor focus on judgmental areas. Articles Accounting - Auditing Sat, 24 Jan 2026 08:40:48 +0530 https://www.taxtmi.com/article/detailed?id=15763