instances he said these financial statements that deviate from ifrs cannot be used for listing in a foreign stock exchange such as us or the uk mr dsouza said icai may have proposed the step to prevent any misuse of the fair value method said jamil khatri of consulting firm kpmg in my view the answer is not to prohibit but to strengthen the framework for auditingregulating fair value measurements he said the government is already considering some more proposals that dilute ifrs recently it allowed real estate companies to book revenues as they build as opposed to the internationally followed practice of reporting only after the completion of a project