To rein in telecom service providers more effectively for anti-competitive and predatory pricing, the telecom regulatory authority of India (Trai) has proposed an overhaul of the existing reporting system on accounting separation regulation, 2004  (ASR) that governs the filing of the report by service providers.

The exercise intends to synchronise the existing accounting principles with the proposed international financial reporting standards (IFRS). The move will also mean a greater adherence to the existing Indian accounting standards, IND – AS.

The review process will work on streamlining the contents and the formats of the existingASR to help Trai achieve its regulatory objectives more efficiently. A standardised format will be put in place keeping the regulator's online data collection and management information system (MIS) in mind.

Other areas that will be reviewed are the frequency of reporting by the service providers and issues concerning auditing and accountability in the submission of ASR.

Trai is in the process of appointment of a consultant to review the  2004 ASR and has asked the service providers to feed it with their comments and suggestion within 15 days. “The objective of the exercise is to bring in an up-dated “Reporting System” which covers all the requirements of current times and which would have validity for the foreseeable future also”, reads Trai's letter to service providers.