Taxmann's Analysis | Intangible Assets – FRRB's Key Observations for Ind AS 38 Compliance

Intangible Assets FRRB’s Key Observations for Ind AS 38 Compliance

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Taxmann's Analysis | Intangible Assets – FRRB's Key Observations for Ind AS 38 Compliance

Published on Mar 26, 2025

This article explores the Financial Reporting Review Board (FRRB) of the ICAI's principal observations on intangible asset reporting, illustrating common strengths and shortcomings in practice. It also offers practical guidance to help companies improve transparency, ensure compliance, and build stakeholder confidence in financial reporting. The FRRB has identified persistent issues in the recognition, measurement, and disclosure of intangible assets—especially under Ind AS 38—and highlighted the following key concerns: ‣ Inadequate Disclosure of Goodwill ‣ Misclassification of Research and Development Expenditure ‣ Non-disclosure of Reconciliation of Intangible Assets ‣ Omission of Amortisation Method and Useful Life ‣ Lack of Clarity on Internally Generated vs. Acquired Intangible Assets

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Taxmann's Analysis | Intangible Assets – FRRB's Key Observations for Ind AS 38 Compliance by Taxmann - Issuu