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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 inclusivewith 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 effective implementation of Accounting Standards by conducting workshops, seminars, train the trainers programs and conducting certificate course on Ind AS in India and on International Financial Reporting Standards (IFRS Standards) abroad.
  • 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

Members

  • CA. M P Vijay Kumar, Chairman
  • CA. (Dr.) Sanjeev Kumar Singhal, Vice Chairman
  • CA. Atul Kumar Gupta, President (Ex-officio)
  • CA. Nihar Niranjan Jambusaria, Vice-President (Ex-officio)
  • CA. Jay Chhaira
  • CA. Prafulla Premsukh Chhajed
  • CA. Tarun Jamnadas Ghia
  • CA. Nandkishore Chidamber Hegde
  • CA. Dheeraj Kumar Khandelwal
  • CA. Chandrashekhar Vasant Chitale
  • CA. Durgesh Kumar Kabra
  • CA. Aniket Sunil Talati
  • CA. Babu Abraham Kallivayalil
  • CA. Dayaniwas Sharma
  • CA. Prasanna Kumar D
  • CA. G Sekar
  • CA. Rajendra Kumar P
  • CA. Ranjeet Kumar Agarwal
  • CA. (Dr.) Debashis Mitra
  • CA. Manu Agrawal
  • CA. Anuj Goyal
  • CA. Kemisha Soni
  • CA. Satish Kumar Gupta
  • CA. Hans Raj Chugh
  • CA. Rajesh Sharma
  • Shri Manoj Pandey
  • Adv. Vijay Kumar Jhalani

Co-opted Members

  • CS. Hitender Mehta, The Institute of Company Secretaries of India
  • CA. Sanjay Vij, Federation of Indian Chambers of Commerce and Industry
  • CMA. (Dr.) K. Ch. A.V.S. N. Murthy, The Institute of Cost Accountants of India
  • CA. Amarvir Saran Das, Reserve Bank of India
  • CA. (Dr.) Ashok Haldia, Associated Chambers of Commerce & Industry
  • CA. Samir Ramnik Shah
  • CA. Sudhir Soni
  • CA. Yagnesh Desai
  • CA. Mukesh Singh Kushwah

Special Invitees

  • Shri Atma Sah, Ministry of Corporate Affairs
  • Prof. Sobhesh Kumar Agarwalla, Indian Institute of Management Ahmedabad
  • Shri Sanjeev Shrivastava, Controller General of Accounts
  • Ms. B. Padmaja, Insurance Regulatory and Development Authority of India
  • Shri Ramesh Gopalaratnam, Indian Banks' Association
  • CA. R Sankaraiah, Confederation of Indian Industry
  • CA. (Dr.) S. B. Zaware
  • CA. Abhay Mehta
  • CA. Ajay Mittal
  • CA. Alok Garg
  • CA. Aparajita Sarkar
  • CA. Gopalakrishnan Ramachandran
  • CA. Rohit Agarwala
  • CA. Rakesh Agawal
  • CA. Smriti Goyal
  • CA. Vikas Baingani
  • CA. Nitin Gupta
  • CA. Vineet Mittal
  • CA. Archana Bhutani
  • CA. (Dr.) Ashish K. Bhattacharyya
  • Dr. Avinash Chander
  • CA. Avineesh Matta
  • CA. Himanshu Kishnadwala
  • CA. K. Sairam
  • CA. Murali Krishna
  • CA. Sandeep Shah
  • CA. Santosh Maller
  • CA. Sumit Seth
  • CA. Venkatraman Srinivasan
  • CA. Vinod Balachandran
  • CA. Paresh Clerk
  • CA. S Narasimhan
  • CA. Vivek Agarwal
  • CA. Ashutosh Pednekar
  • CA. Gokul Dixit
  • CA. Lokesh Vasudevan
  • CA. S. Ravi
  • CA. Parveen Kumar
  • CA. Kamal Garg

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