MCA UPDATE
Companies (Accounting Standards) Amendment Rules, 2016
In exercise of the powers conferred by clause (a) of sub-section (1) of Section 642 of the Companies Act, 1956 read with Section 210A and Section (3C) of Section 211 of the Companies Act, 1956, the Ministry of Corporate Affairs in consultation with National Advisory Committee on Accounting Standard has amended the Companies (Accounting Standards) Rules, 2006 vide its notification dated 30th March, 2016.
These rules may be called the Companies (Accounting Standard) Amendment Rules, 2016
They shall come into force on the date of their publication in the Official Gazette.
