IFRS in India

I had just finished writing the article on India in my last post when Google Alerts made me aware of these articles on developments in India.

http://economictimes.indiatimes.com/News/Economy/Policy/The_business_case_of_IFRS_in_Indian_context/articleshow/msid-3143804,curpg-2.cms

http://economictimes.indiatimes.com/News/Economy/Policy/Its_a_fait_accompli_let_us_brace_up_for_it/articleshow/3143807.cms

Seems like IFRS adoption is going ahead but there are a number of problems such as Companies Act requirements. In Canada IFRS is going to be included in the CICA Handbook and as such IFRS will be on side with our Company Law that refers to the CICA Handbook as GAAP. That's one problem we do not have. I was interested in the comments about the difficulties relating to obtaining fair values. I would like to hear from readers about their difficulties getting fair values for IFRS in Canada.