1[34A. Accounting and auditing standards.
The Central Government may, in consultation with the National Financial Reporting Authority constituted under section 132 of the Companies Act, 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, for a class or classes of limited liability partnerships.]
Amendment
1.Inserted by the Limited Liability Partnership (Amendment) Act, 2021 dated 13th August 2021.