Lawgist133Central Government to prescribe accounting standard
The Central Government may prescribe the standards of accounting or any addendum thereto, as recommended by the Institute of Chartered Accountants of India, constituted under section 3 of the Chartered Accountants Act, 1949 (38 of 1949), in consultation with and after examination of the recommendations made by the National Financial Reporting Authority:
1[Provided that until the National Financial Reporting Authority is constituted under section 132 of the Companies Act, 2013 (18 of 2013), the Central Government may prescribe the standards of accounting or any addendum thereto, as recommended by the Institute of Chartered Accountants of India, constituted under section 3 of the Chartered Accountants Act, 1949 (38 of 1949), in consultation with and after examination of the recommendations made by National Advisory Committee on Accounting Standards constituted under section 210A of the Companies Act, 1956 (1 of 1956).]
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1. Ins. by notification No. S.O. 1227(E), dated 29th March, 2016 (w.e.f 1-4-2015).
- 128 Books of account, etc., to be kept by compan
- 129 Financial statement
- 130 Re-opening of accounts on court‘s or Tribunal‘s order
- 131 Voluntary revision of financial statements or Board‘s repor
- 132 Constitution of National Financial Reporting Authorit
- 133 Central Government to prescribe accounting standard
- 134 Financial statement, Board‘s report, etc
- 135 Corporate Social Responsibilit
- 136 Right of member to copies of audited financial statemen
- 137 Copy of financial statement to be filed with Registra
- 138 Internal Audit
