SEBI Regulations allows an issuer to file restated financial statement as per Indian GAAP e.g. for banks, insurance companies.
As per SEBI (ICDR) Regulations, 2018, the financial statements are required to be restated for the following areas:
- Change in accounting policy
- Prior-period error
- Non-provisioning, regrouping, other adjustments
- Audit qualifications
- Change in estimates
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