Independent Director
A director with no material pecuniary relationship with the company beyond sitting fees, required on the boards of specified classes of companies to bring an independent perspective.
Related terms
- Ind AS 7
Governs the statement of cash flows, classifying cash flows into operating, investing and financing activities.
- Ind AS 8
Governs accounting policies, changes in accounting estimates, and the correction of prior-period errors.
- Inherent Risk
The susceptibility of an assertion to misstatement before considering any related controls — some balances (estimates, related-party transactions) are inherently riskier than others.
- Input Service Distributor (ISD)
An office of a business that receives invoices for input services and distributes the available credit to its other registered units.
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