Section 34A — Accounting and auditing standards.

1 [The Central Government may, in consultation with the National Financial Reporting Authority constituted under section 132 of the Companies Act, 2013 (18 of 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 (38 of 1949), for a class or classes of limited liability partnerships.]

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