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of <h1>Central Government Forms Advisory Committee Under Section 210A of Companies Act for Accounting Standards Guidance</h1> Section 210A of the Companies Act, 1956, empowers the Central Government to establish the National Advisory Committee on Accounting Standards. This committee advises on the formulation of accounting policies and standards for companies. It comprises a Chairperson with expertise in relevant fields, representatives from various professional institutes, government bodies, and industry representatives. The committee provides recommendations on accounting and auditing matters as requested by the government. Members serve terms set by the government, and vacancies are filled similarly. Non-official members receive allowances equivalent to top-ranking government officers.
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