Indian Accounting Standards, (abbreviated as india AS) are a set of accounting standards notified by the Ministry of Corporate Affairs which are converged with International Financial Reporting Standards (IFRS).
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NACAS recommend these standards to the Ministry of Corporate Affairs.
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As on date the Ministry of Corporate Affairs notified 35 Indian Accounting Standards(Ind AS).
In 2011, the Ministry of Corporate Affairs began investigating Sai Prasad Group for "alleged financial irregularities", according to Business Standard.
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