34A2[Accounting and auditing standards.
Section 34A · Chapter VII · page 16 of the Act
The Central Government may, in consultation with the National Financial Reporting Authority constituted under section 132 of the Companies Act, 2013 (18 of 2013),--
(a) prescribe the standards of accounting; and
(b) prescribe the standards of auditing, as recommended by the Institute of Chartered Accountants of India constituted under section 3 of the Chartered Accountants Act, 1949 (38 of 1949), for a class or classes of limited liability partnerships.]
2 Ins. by Act 31 of 2021, s. 14, (w.e.f. 1-4-2022).