I Want to know that is it mandatory that ICAI while preparing its financial statements follow AS or not........?
2 Replies
rohit
(Chartered Accountant)
(101 Points)
Replied 03 June 2010
I mean to say whether it follow Accounting standards or not.
"As for NOn companies AS is followed only when it does reporting activities but there is an exception that if it is involved in any charitable / religious activities & not carrying any commercial work then AS will not be applied"
So tell me whether ICAI apply AS or not while reporting it to MCA.
Hope u understand this time!!
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