This aspect makes skill building all the more important for Indian banks as IFRS implementation will not only impact their accounts and finance teams but will pervade to their credit and investment analysts and decision makers. The RBI has been proactive in facilitating skill building by conducting seminars and training programmes as well as providing faculty support to some institutions.
I am glad to learn that the ICAI too has incorporated IFRS in its curriculum for students and has introduced a certificate course on IFRS for its members. There is also scope for the RBI, banking system and the ICAI to work together to build skills in this area. 32.