07 October 2008
Technically speaking you need to exhibit only those standards which are not applicable ab initio. But in the case of cases like AS-18, it will be difficult to ascertain whether the company considered such transactions or not for disclosure will not be known unless a declaration whether it was considered are not is made. That is why in the case of AS-3, it will be known why it was not there if it is not exhibited, it will not be so in the case of AS-18. It may therefore necessary to state in the case of AS 18 the non applicability if no transactions were there. In the case of AS 3 it is not required.
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