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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, 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 suggests 40 audit standards for LLPs to govtThe National Financial Reporting Authority (NFRA) recommended 40 auditing standards for limited liability partnerships (LLPs) to the corpor...
- New audit regime in sync with Viksit Bharat vision: NFRA chiefThe National Financial Reporting Authority (NFRA) proposes aligning Indian audit standards with global norms by April 2026. The chairman em...
- NFRA board proposes new audit regime in India from April 2026The National Financial Reporting Authority (NFRA) proposes a new accounting regime for India, aligning auditing standards with global norms...
- NFRA may take up revision of 35 audit standards next weekThe National Financial Reporting Authority (NFRA) and the Institute of Chartered Accountants of India (ICAI) are headed for another clash. ...
- ICAI takes matters into its own hands with new quality management standardsICAI released new Standard of Quality Management for CAs and audit firms, bypassing NFRA's mandated process. This move has sparked a contro...
- NFRA and ICAI at odds over plan to sync audits with global normsThe National Financial Reporting Authority and the Institute of Chartered Accountants of India are at odds over proposed changes to domesti...
- NFRA changes tack, ramps up focus on supervision to boost audit ecosystem: Chairman AB PandeyThe National Financial Reporting Authority (NFRA) in India has shifted its approach from a predominantly enforcement-driven regulator to on...
- Too much regulatory guardrails could impede growth rate: Uday KotakObserving that the aspiration of the fast growth of 7.5-8 per cent GDP over the next 20-25 years needs significant capacity building, the v...
- NFRA bans two auditors for up to 10 years for lapses in DHFL’s FY18 auditsIn two separate orders, made public on Wednesday, the regulator has banned Jignesh Mehta for taking up audits for 10 years and Amit Vinay C...
- NFRA reviews proposals for new accounting standards for insurance contractsNFRA will share its recommendations with the ministry of corporate affairs, which will consider the Ind AS 117 and notify the standards und...
- EY partner firm SRBC's audit of IL&FS compromised: NFRAIn its audit quality report (AQR), the NFRA pointed to "large scale non-compliance with professional and regulatory and legal requirements"...
- NFRA pulls up SRBC & Co for ITNL auditThe report said that the audit firm has to be independent and has violated several regulations mandated for the audit firms. NFRA, part of ...
- Appointment of BSR as an auditor of IFIN was illegal: NFRA report on IL&FSET had first written on July 17 about NFRA’s report on BSR and how the firm did not adhere to auditing standards. NFRA had then sought the ...
- IL&FS fraud: National Financial Reporting Authority flags BSR’s lapses in IFIN caseThe inquiry is focused on the allegations of fraud at IL&FS after the company failed to meet debt obligations in September 2018, triggering...
- IFIN case: Regulator says Deloitte didn’t comply with guidelinesNFRA has said that Deloitte had failed to comply with auditing standards in carrying out statutory audit of IL&FS.
- Cabinet clears setting up of NFRA to oversee auditorsThe decision comes against the backdrop of various auditing lapses in the banking sector, including the Rs 12,700 crore fraud at Punjab Nat...
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