CA Institute’s research arm to reopen, recast IL&FS’ statements

The uncertainty as to who will reopen and recast of financial statements of beleaguered IL&FS and two of its subsidiaries — IFIN and ITNL — is now finally over.

At the behest of the government, the CA Institute’s Accounting Research Foundation (ICAI-ARF) — a not for profit — will now take up the task of recasting the statements between the financial years 2012-13 and 2017-18.