“...listing of PSUs on international stock exchanges like London Stock Exchange (LSE), NASDAQ would further enhance the assessment of hidden value of assets and also establish the credibility of our PSUs,” Standing Conference of Public Enterprises (Scope) said in a statement quoting its new Director General U D Choubey.
Inaugurating a workshop on ‘Adoption of International Financial Reporting Standards (IFRS)’, jointly organised by Scope and the Institute of Chartered Accountants of India, Choubey said IFRS is an internationally accepted system for preparation and presentation of financial statements.
“Recording, reviewing and reporting in accordance with IFRS requirements assures credibility of financial statements,” it said.
Pointing out that investment by international financial bodies calls for transparency in financial information, Choubey urged the PSUs to comply with globally accepted accounting standards to create confidence in the minds of foreign investors.
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