26 July 2012
In India Accounting standard issuing authority is ICAI. so Accounting standards issued by ICAI will be treated as Indian Accounting standard.
28 July 2012
Yes. In India Accounting Standard issued authority is ICAI.the same shall be approved by Ministry of company affairs. till now the MCA approved 29 Accounting standards please refer the link
or visit MCA website. but all the accounting standards are issued by ICAI only.
may be you got confused between the number of standards
Indian accounting standards issued by ICAI, but regulating & approved authority is MCA. once MCA will approve the standards will be mandatory applicable
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