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of <h1>Government Forms National Advisory Committee on Accounting Standards under Companies Act, 1956; Members Serve Until Feb 28, 2006.</h1> The Central Government has established the National Advisory Committee on Accounting Standards under the Companies Act, 1956. This committee is tasked with advising the government on accounting policies and standards for companies. The committee includes a chairperson and members from various professional and governmental bodies, such as the Institute of Chartered Accountants, the Institute of Company Secretaries, the Reserve Bank of India, and others. All members will hold office until February 28, 2006. The notification is effective upon publication in the Official Gazette.
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