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ICAI refers AS-15 issue to sub group
September, 08th 2006
It's interim relief for all PSU banks as the Institute of Chartered Accountants of India has referred the controversial Accounting Standard-15 to a sub group, reports CNBC-TV18. The Aounting Standard deals with accounting for retirement benefits and is being opposed by PSU banks as it could have a big hit on their bottomline. In response to the pressure put by Indian Banks Association, the ICAI sub-group will now discuss this matter with the banks and submit its recommendations to the Central Council of the institute.
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