ICAI TIGHTENS DISC- LOSURE NORMS FOR DERIVATIVES-AS-32 ON DISCLOSURE OF FIN- ANCIAL INSTRUMENTS APPROVED BY ICAI

Companies will soon need to disclose the nature and extent of risks arising from the financial instruments they hold and the steps taken to manage such risks. In a step which is likely to give shareholders a clearer picture of the health of the company they own, accounting regulator Institute of
Chartered Accountants of India has approved a new accounting standard on disclosure of all sorts of financial instruments. It would also keep investors abreast of the steps taken by the companies to guard against potential financial losses.