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Accounting Standards Board


Chairman, Accounting Standards Board
CA. M. P. Vijay Kumar

Phone: +91 9840251223
Mobile: +91 9840251223

E-mail: mpv@icai.in

Functions/Objectives/Terms of Reference

  • To conceive of and suggest areas in which Accounting Standards need to be developed.
  • To formulate Accounting Standards through a process that is robust, comprehensive, and inclusive with a view to assisting the Council of the ICAI in evolving and establishing Accounting Standards to discharge its role of national standard-setter as follows:
    • To recommend Accounting Standards (Indian Accounting Standards (Ind AS) and Accounting Standards (AS)) to Government of India for notification under section 133 of the Companies Act 2013;
    • To issue Accounting Standards for entities other than companies incorporated under Companies Act 2013.
  • To review, at regular intervals, the Accounting Standards from the point of view of changed conditions, practical challenges and implementation experience of the Accounting Standards, if any, and revise the same appropriately.
  • To provide, from time to time, interpretations and guidance to support implementation of Accounting Standards, including publishing education material, guidance notes, technical guides, implementation guide, e-learning tools, etc.
  • To take adequate steps to enhance knowledge of the members and other stakeholders for proper implementation of Accounting Standards by conducting workshops, seminars and train the trainers programs.
  • To contribute to the development of a single set of high quality globally accepted financial reporting standards for international use by IFRS Foundation.
  • To collaborate and develop mutually beneficial partnerships with other national standard-setters and various consultative/advisory forums of IFRS Foundation such as Asian-Oceanian Standard-Setters Group(AOSSG), Emerging Economies Group (EEG), International Forum of Accounting Standard-setters (IFASS), Accounting Standards Advisory Forum (ASAF), IFRS Advisory Council, Financial Accounting Standards Board of US (FASB), European Financial Reporting Advisory Group (EFRAG) etc.
  • To carry out such other functions relating to Accounting and Accounting Standards.

Members

  • CA. M P Vijay Kumar, Chairman
  • CA. (Dr.) Sanjeev Kumar Singhal, Vice Chairman
  • CA.Nihar N Jambusaria, President (Ex-officio)
  • CA.(Dr.) Debashis Mitra, Vice-President (Ex-officio)
  • CA. Jay Chhaira
  • CA. Prafulla P Chhajed
  • CA. Tarun J Ghia
  • CA. Nandkishore C Hegde
  • CA. Dheeraj Kumar Khandelwal
  • CA. Chandrashekhar V Chitale
  • CA. Shriniwas Y Joshi
  • CA. Durgesh Kumar Kabra
  • CA. Aniket S Talati
  • CA. Babu Abraham Kallivayalil
  • CA. Dayaniwas Sharma
  • CA. Prasanna Kumar D
  • CA. G Sekar
  • CA. Ranjeet Kumar Agarwal
  • CA. Manu Agrawal
  • CA. Anuj Goyal
  • CA. Kemisha Soni
  • CA. Satish Kumar Gupta
  • CA. Hans Raj Chugh
  • CA. Rajesh Sharma
  • CA. Charanjot Singh Nanda
  • Shri Manoj Pandey
  • Adv. Vijay Kumar Jhalani

Co-opted Members

  • CS. Hitender Mehta, The Institute of Company Secretaries of India
  • CA. (Dr.) Ashok Haldia, The Associated Chambers of Commerce and Industry of India
  • CA. Amarvir Saran Das, Reserve Bank of India
  • CA. Vasu Garg
  • CA. Yagnesh Desai
  • CA. Amol Arun Apte
  • CA. Sanjay Vij, Federation of Indian Chambers of Commerce & Industry
  • CA. Raj Mullick

Special Invitees

  • Shri Alok Ranjan, O/o Controller General of Accounts
  • CA. R Sankaraiah, Confederation of Indian Industry
  • Shri V. B. Relan, O/o Comptroller and Auditor General of India
  • CA. B. Padmaja, Insurance Regulatory and Development Authority of India
  • CA. Aparajita Sarkar
  • CA. (Dr.) Ashish K. Bhattacharyya
  • CA. Ashutosh Pednekar
  • Dr. Avinash Chander
  • CA. Charanjit Attra
  • CA. K. Sairam
  • CA. Lokesh Vasudevan
  • CA. Mahesh Krishnan
  • CA. Murali Krishna
  • CA. Naman Aggarwal
  • CA. Rajendra Khandelwal
  • CA. Santosh Maller
  • CA. Sumit Seth
  • CA. Vivek Newatia
  • CA. Archana Bhutani
  • CA. Vivek Agarwal
  • CA. Sudhir Soni
  • CA. (Dr.) S. B. Zaware

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