Chairman, Accounting Standards Board
CA. M. P. Vijay Kumar
Phone: +91 9840251223 Mobile: +91 9840251223
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.
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
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
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