During the Council Year 2019-20, a new Committee namely Committee on Public and Government Financial Management (CP&GFM) has been constituted in ICAI to carry forward the initiatives of two erstwhile Committees (i.e., Committee on Accounting Standards for Local Bodies (CASLB) and Committee on Public Finance and Government Accounting (CPF&GA)). One of the primary activities of the erstwhile CASLB was to formulate Accounting Standards for Local Bodies (ASLBs) which have been carried forward under the newly constituted Committee. While formulating ASLBs, exposure drafts of ASLBs are issued to invite comments from the members of the Institute and the public at large. The comments received are invaluable as they help to a great extent in finalising the standard. CP&GFM considers each and every comment received and examines whether any change is required to the draft of the standard so exposed.

To view/ download the Exposure Drafts of ASLBs issued by the CP&GFM and to submit comment online on the same, click on the following link:

http://www.icai.org/comments/caslb/