The researchers studied how company rules affect whether businesses follow new accounting standards in India. They looked at info from 70 companies on the Bombay Stock Exchange between 2016–2018. The study found that having independent board members who are knowledgeable, along with a large audit committee, helped companies follow the accounting standards. However, factors like how thorough the board and audit committee were, foreign ownership, and using a top auditing firm didn't have a big influence. The study's novel method of checking compliance can help other companies too. These findings are important for investors, professionals, teachers, and policy-makers. The research suggests that following the accounting standards is key, and a group overseeing this could be beneficial.