<h1>Regulatory Impact Assessment urged to evaluate costs and benefits of revised Accounting Standards for small companies.</h1> Regulatory Impact Assessment required for revision of Accounting Standards for companies outside Ind AS, after ICAI submitted an Approach Paper and proposed 18 revised ASs. NFRA noted affected entities are mostly privately held micro, small and medium companies with limited public interest and low audit fees, and that many proposed Revised ASs are overly complex for those users. NFRA directs transparent nationwide consultation with preparers and small practitioners, a comprehensive study of compliance costs and capacity versus stakeholder benefits, and reconsideration of the structure, form and content of Revised ASs to align them with the size, commercial needs and compliance capacity of AS Companies.