Applicability of as17

SMC means Small and Medium sized Companies.

AS17 is not mandatory for SMCs.

https://www.icai.org/new_post.H T M L?post_id=3046&c_id=25

If AS mentions that it is not mandatory for certain class of companies, it means that it is applicable for other than such specified class of companies.

WHAT IS THE CRITERIA FOR SMC UNDER COMPANIES ACT 2013

Small and Medium Sized Company” (SMC) means, a company-