National Advisory Committee on Accounting Standards established to advise on corporate accounting policies and standards; members appointed for fixed tenure. Constitution of the National Advisory Committee on Accounting Standards under section 210A to advise the Central Government on formulation and laying down of accounting policies and accounting standards for adoption by companies or classes of companies. The notification specifies the committee's membership by institutional nomination and name, designates a Chairperson, prescribes a fixed term of office for appointees, and sets an effective date for the notification.