New Delhi: Industry body CII on Wednesday urged for comprehensive review for recognition of intangible assets for keeping pace with expansion of the digital economy. It also said that intangible assets have long been the engines for value creation in the world’s developed economies. “As India is transitioning towards a digital economy, the importance of
The Confederation of Indian Industry (CII) has urged for a sweeping review of how intangible assets are recognized and accounted for as India shifts towards a digital economy. According to CII, these intangible assets play a vital role in value creation under modern business models, particularly in sectors like Software as a Service (SaaS),
The Confederation of Indian Industry (CII) has urged a comprehensive review of the accounting and recognition framework for intangible assets, highlighting the need to align with India’s transition to a digital economy, where intellectual capital is emerging as a critical driver of value creation for entities. Addressing the challenges around recognition of intangible assets will