A STUDY ON INTERNATIONAL FINANCIAL REPORTING STANDARDS ADOPTION AT ENGINEERING DESIGN SUPPORT

This research project is aimed at evaluating the organization's experience, challenges and consequences associated with IFRS (International Financial Reporting Standards) implementation of a multinational company in the Indian context.Globalizat ion had a significant impact on financial systems by implementing IFRS as the global accounting language which provided consistency, transparency and comparability.The research project, conducted for Hinduja Tech -a sizeable employer doing public and private sector work, used primary and secondary data collection.A sample of 140 was selected by selecting data from structured questionnaires, financial records (2019-2024), and semi-structured interviews with financial professionals, respectively.Descriptive research was used and statistical methods such as percentage analysis and chi-square were used.The project also describes key IFRS standards such as IFRS 10 (Consolidated Financial Statements), IFRS 16 (Leases), and IFRS 19 (Employee Benefits) and the labor-related costs of Hinduja Tech.The results show IFRS compliance is more than compliance it is a strategic initiative as an organizational change, financial information in financial planning, and improve investors' confidence.For Hinduja Tech, IFRS adoption has unlocked greater global reporting convergence, expanded capital market access, and improved stakeholder engagement.In conclusion, the study confirms that while transitioning to IFRS has its challenges, the long-term benefits of credible, transparent, and globally comparable financial reporting outweigh the difficulties.The research adds to academic literature and offers practical insights for policymakers, auditors, and corporate leaders as they navigate the complexities of IFRS adoption.