As of 2010, the Institute of Chartered Accountants of India has issued 32 Accounting Standards. These are numbered AS - 1 to AS - 7 and AS - 9 to AS - 32 (AS - 8 is no longer in force since it was merged with AS - 26). Compliance with accounting standards issued by ICAI has become a statutory requirement with the notification of Companies (Accounting Standards) Rules, 2006 by the Government of India. Before the constitution of the National Advisory Committee on Accounting Standards (NACAS), the institute was the sole accounting standard setter in India. However NACAS is not an independent body. It can only consider accounting standards recommended by ICAI and advise the Government of India to notify them under the Companies Act, 2013. Further the Accounting Standards so notified are applicable only to companies registered under the companies act, 2013. For all other entities the accounting standards issued the ICAI continue to apply.
total number of accounting standards issued by icai
32 32