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NFRA AUDIT QUALITY
IndusInd Bank faces fresh whistleblower allegationsThe new complaint alleges insider trading by Samir Agarwal, former zonal head of eastern India at IndusInd Bank, manipulation of financial ...- Audit watchdog to split disciplinary & probe functions, set up 4 divisionsThe National Financial Reporting Authority (NFRA) is restructuring its operations by creating separate wings for investigation and discipli...
- India may soon notify new audit standards after prolonged regulatory tussleIndia's corporate affairs ministry is set to announce new audit rules. These changes will bring Indian standards in line with global practi...
- ICAI defers adoption of new quality management standards by accountancy firmsThe Institute of Chartered Accountants of India has postponed its new quality management standards. These standards were set to be implemen...
- NFRA flags quality control gaps in six audit firmsThe National Financial Reporting Authority (NFRA) has released inspection reports on six major audit firms, including Deloitte Haskins & Se...
- NFRA report flags audit lapses at firms linked to PwC, EY, KPMG, BDOIndia's financial watchdog, NFRA, has released inspection reports on major audit firms. These reports highlight issues with audit independe...
- NFRA, ICAI mull mechanism to boost regulatory coordinationTo promote harmony and effective collaboration, India’s premier audit watchdogs, NFRA and ICAI, are setting up a systematic approach for be...
- NFRA issues toolkit to help auditors detect errors in financial statementsThe National Financial Reporting Authority has issued a new toolkit to help small and medium accounting firms better assess risks of materi...
- NFRA issues toolkits to improve quality of audit by small, mid-sized accounting firmsThe National Financial Reporting Authority is releasing new toolkits for small and medium accounting firms. These guides focus on fundament...
- ICAI looks to set a brand new standardThe Institute of Chartered Accountants of India plans to submit its own revised auditing standard to the government. This move could reigni...
- NFRA detects shortcomings in MSKA’s audit of related party transactionsNFRA uncovered significant deficiencies in the audit practices of MSKA & Associates, particularly in related party transactions. The audit ...
- ICAI can't notify audit quality norms, says SG Tushar MehtaThe ICAI is not authorized to issue standards on quality management or amend audit norms for accountancy firms. This responsibility lies wi...
- NFRA flags deficiencies in BSR & Co's audit of related party transactionsThe National Financial Reporting Authority (NFRA) identifies significant deficiencies in BSR & Co LLP's audit practices, focusing on relate...
- Issuing audit quality standards within our remit: ICAI writes to MCA amid ongoing tussle with NFRAThe ICAI has informed the corporate affairs ministry that it has the authority to issue quality management standards for accountancy firms....
- ICAI issues standard on quality management for CA firmsThe ICAI has issued two new quality management standards (SQM 1 and 2) for audit firms, focusing on quality management systems and engageme...
- Auditors' red flag in time could have averted many financial misdoings: NFRA chiefEmphasising that things work on trust, Ajay Bhushan Prasad Pandey said the NFRA should not be seen merely as an enforcement agency. "Only i...
- NFRA issues guidelines on audit quality inspectionThe inspection guidelines are based on recommendations of the International Forum for Independent Audit Regulators (IFIAR), which comprise ...
- Government committed to further strengthening National Financial Reporting AuthoritySpeaking at an event organised by NFRA as a part of Azadi Ka Amrit Mahotsav (AKAM) celebrations, Ministry of Corporate Affairs Secretary Ra...
- Auditors offering non-audit services: NFRA interpretation could create disruptionNFRA, part of the Ministry of Corporate Affairs (MCA) in a 173 page report has gone into detail which services can and cannot be offered by...
- IL&FS case: NFRA, ICAI spar over probe into auditors’ roleA chartered accountant body had filed a petition in Delhi High Court challenging the vires or power of NFRA.
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