Discuss the accounting principles to be used in preparation and disclosure of financial reports under SEBI (LODR) Regulations, 2015 by HDB Bank Ltd., a foreign listed entity, which has listed its Indian Depository Receip

Accounting principles to be used in preparation and disclosure of financial reports under SEBI (LODR) Regulations, 2015 Schedule IV - Part B of SEBI (LODR) Regulations, 2015 requires the accounting principles that are to be used in preparation and disclosure of financial reports as detailed below- The listed entity may prepare and disclose its financial results in accordance with Indian GAAP or International Financial Reporting Standards IFRS or US GAAP. In case the listed entity prepares and discloses the financial results as per US GAAP, a reconciliation statement vis-a-vis Indian GAAP and summary of significant differences between the Indian GAAP and US GAAP has to be annexed. If financial results are prepared in accordance with IFRS, then listed entity shall annex only the summary of significant differences between the Indian GAAP and IFRS. If the listed entity is shifting from IFRS to US GAAP or vice versa then the accounts relating to the previous period shall be properly restated for comparison; The Accounting / Reporting Standard followed for any interim results shall be consistent with that of the Annual results. The financial results so submitted shall be based on the same set of accounting policies as those followed in the previous year provided that in case, there are changes in the accounting policies, the results of previous year shall be restated as per the present accounting policies, to make it comparable with current year results.