Accounting Standard exemption: companies applying clause 46A exempt from specified AS 11 and AS 16 provisions in corporate reporting Where a company elects to apply clause 46A of Accounting Standard 11 on the effects of changes in foreign exchange rates, paragraph 6 of Accounting Standard 11 and paragraph 4(e) of Accounting Standard 16 shall not apply to that company, as a clarification issued to address implementation difficulties and guide stakeholders on applicability of these accounting provisions.