2. Definitions

(1) In these rules, unless the context otherwise requires,-

(a) “accounting standards” means the ‘accounting standards’ as defined in clause (2) of section 2 of the Act;

(b) “Act” means the Companies Act, 2013 (18 of 2013);

(c) “auditing standards” means the ‘auditing standards’ as defined in clause (7) of section 2 of the Act;

(d) “auditor” means an individual or a firm including a limited liability partnership incorporated under the Limited Liability Partnership Act, 2008 (6 of 2009) or any other Act for the time being in force, who has been appointed as an auditor of a company or a body corporate under section 139 of the Act or under any other Act for the time being in force;..

(e) “Authority” means the National Financial Reporting Authority constituted under sub-section (1) of section 132 of the Act;

(f) “chairperson” means the chairperson of the Authority;

(g) “Division” means a division ¹[including the one headed by the chairperson or a full-time member] established by the Authority for the purpose of organising and carrying out its functions and duties;

(h) “Form” means the Form annexed to these Rules;

(i) “full-time member” means a member who has been appointed as such under sub-section (3) of section 132 of the Act;

U) “part-time member” means a member of the Authority other than a full-time member.

(2) Words and expressions used and not defined in these rules but defined in the Act shall have the same meanings respectively assigned to them in the Act.

Amendment

1. Inserted by The National Financial Reporting Authority (Amendment) Rules, 2019 Dated 05.09.2019