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Regulatory Bodies — India's Accounting Ecosystem
| Body | Full Name | Role | Established |
|---|---|---|---|
| ICAI | Institute of Chartered Accountants of India | Set accounting standards; regulate CAs | 1949 (CA Act) |
| NFRA | National Financial Reporting Authority | Oversee accounting/audit quality; investigate misconduct | October 2018 |
| SEBI | Securities and Exchange Board of India | Require financial disclosures from listed companies | 1992 (SEBI Act) |
| MCA | Ministry of Corporate Affairs | Companies Act 2013; Ind AS notification | Ongoing |
| RBI | Reserve Bank of India | Regulate bank accounting standards | 1935 |
| IRDAI | Insurance Regulatory and Development Authority | Insurance accounting standards | 1999 |
| IASB | International Accounting Standards Board | Issue IFRS globally | 2001 (London) |
| IAASB | International Auditing and Assurance Standards Board | Issue ISA (International Standards on Auditing) | 1978 (reconstituted 2003) |