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CMA Final · Corporate Financial Reporting · Fair Value Measurement (Ind AS 113)

Ind AS 113 retains paragraph numbers that match IFRS 13 even where text is omitted. Which of the following is stated in the comparison with IFRS 13?

Ind AS 113 omits paragraphs C1-C5 of IFRS 13 because they deal with effective date and transition, which are not relevant in the Indian context, yet it keeps the paragraph numbers so they stay consistent with IFRS 13.

  1. AParagraphs C1-C5 of IFRS 13 are not included in Ind AS 113 because they relate to effective date and transition, though the paragraph numbers are retainedCorrect
  2. BParagraph 9 of IFRS 13 defining fair value is replaced with a different definition in Ind AS 113
  3. CParagraph 7(b) is retained in Ind AS 113 because it applies to retirement benefit plans of all companies
  4. DParagraphs C1-C5 are included in full because transition provisions are relevant in the Indian context

Explanation

The Appendix 1 comparison says paragraphs C1-C5 relate to effective date and transition, not relevant in India, so they are not included but their numbers are retained for consistency. Paragraph 7(b) is deleted, not retained, and the fair value definition is the same as in IFRS 13.

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