CHAPTER IX
ACCOUNTS OF COMPANIES
[Section 133 is brought to force with effect from September 12, 2013.]
Central Government to prescribe accounting standards.
- 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, in consultation with and after examination of the recommendations made by the National Financial Reporting Authority.