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Govt. notifies norms for maintenance of accounts by IBBI; prescribes formats for preparing financial statements

May 7, 2018
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The Government has notified the IBBI (Forms of Annual Statement of Accounts) rules, 2018. The rules requires IBBI to maintain its account and records in the specified format. The Board also need to prepare its annual statement of accounts and balance sheet showing the financial results and significant accounting policies in specified format. The Rules further prescribes that board should follow the general directions given in consultation with the CAG in maintaining the financial statements.
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