Examination of various Rules and Accounting Standards under the Companies Act, 2013 is an ongoing process. Giving this information in written reply to a question in the Rajya Sabha today, Shri Sachin Pilot, Minister of Corporate Affairs, said that Accounting Standards are amended from time to time keeping in view the requirements of the situation. No amendment to the Standards is currently being considered. He also informed the House that the Indian Institute of Corporate Affairs, as part of its MOU with an agency had facilitated the release of a ready reckoner for acquainting stakeholders with various laws including the Companies Act, 1956.

Accounting standards: currently no amendments being considered; regulatory review continues and stakeholders were provided a ready reckoner. Examination and potential amendment of Accounting Standards under the Companies Act, 2013 is ongoing; amendments are made as required but none are currently being considered. A ready reckoner was released to acquaint stakeholders with corporate laws pursuant to a memorandum of understanding.