National Advisory Committee on Accounting Standards (NACAS) is a body set up under section 210A of the Companies Act, 1956 by the Government of India.
One member each nominated by The Institute of Chartered Accountants of India constituted under the Chartered Accountants Act, 1949, The Institute of Cost and Work Accountants Act, 1959 and The Institute of Company Secretaries of India constituted under the Company secretaries Act 1980.
Two members to represent the chambers of commerce and industry to be nominated by The Central Government of India; and 7.
Further, Institute of Chartered Accountants of India (ICAI) has the responsibility of preparing the accounting standards and recommend them to NACAS CA.Amarjit Chopra is the current chairman of NACAS.
He is a past president of Institute of Chartered Accountants of India, (ICAI).