The Advisory Group on Accounting and Auditing has conducted in depth studies of the International Accounting Standards (IAS), the US Generally Accepted Accounting Principles (US GAAP) and the comparative structure of Accounting Standards in India and standards issued by the Accounting Standards Board of the Institute of Chartered Accountants of India (ICAI).
5.6 In the course of their work, the Advisory Groups have also been having the benefit of discussions with market participants, members from professional bodies as well as academics.