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of <h1>Government Forms National Advisory Committee on Accounting Standards under Companies Act, 1956; Members Serve Until Feb 28, 2007</h1> The Central Government has established the National Advisory Committee on Accounting Standards under the Companies Act, 1956. This committee is tasked with advising on accounting policies and standards for companies. The committee comprises various members, including representatives from the Institute of Chartered Accountants of India, the Institute of Company Secretaries of India, the Reserve Bank of India, and other key financial and commercial institutions. Each member is appointed to serve until February 28, 2007. The notification is effective from its publication date in the Official Gazette.
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