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Compendium of Indian Accounting Standards

Ind AS Guidance Material
  • IFRS Part B (Accompanying Guidance)
  • IFRS Part C (Bases for Conclusions)
© The Institute of Chartered Accountants of India
Copyright notice

The Institute of Chartered Accountants of India (ICAI) recommends Accounting Standards to National Financial Reporting Authority (NFRA) and the Standards are notified under section 133 of the Companies Act, 2013 by the Ministry of Corporate Affairs, Government of India after considering the recommendation of the National Financial Reporting Authority (NFRA)* constituted under the Companies Act, 2013, in the Official Gazette as “Rules” made under the Companies Act, 2013. The statutory process was followed in the formulation of Indian Accounting Standards (Ind AS) which have been notified as the Companies (Indian Accounting Standards) Rules, 2015. In developing Ind AS, copyright material owned by the IFRS Foundation has been used and in respect of this material all rights are reserved. For the avoidance of doubt, Ind AS differ from the IFRS Standards as they contain certain carve-outs and carve-ins for making them contextually relevant to the Indian economic and legal environment.

Notwithstanding anything contained in the above paragraph, Ind AS notified under the Companies Act 2013 are governed by the provisions of the Indian Copyright Act 1957 and the copyright therein vests in Government of India.

For further information please contact the Institute of Chartered Accountants of India at and/or the IFRS Foundation at


Ind AS are notified by the Government of India in respect of its application in the Republic of India and have not been prepared or endorsed by the International Accounting Standards Board (the “Board”). The Board and the IFRS Foundation, the authors and the publishers do not accept responsibility for loss caused to any person who acts or refrains from acting in reliance on the material in this publication, whether such loss is caused by negligence or otherwise.

Use Outside India

No person/entity shall be entitled to use Ind AS outside Indian jurisdiction without prior written permission of MCA, Government of India.
* Prior to constitution of NFRA on October 01, 2018, National Advisory Committee on Accounting Standards

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