ICAI proposes Twelve New Accounting Standards for Local Bodies

The Institute of Chartered Accountants of India ( ICAI ) has proposed twelve new Accounting Standards for Local Bodies. The Institute has been formulating accrual-based Accounting Standards for Local Bodies (ASLBs) since March 2005 to improve financial reporting of Government at the third-tier of Government, i.e., Local Bodies that are moving towards accrual accounting. Moving […]

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