NFRA sets up 4 separate functional divisionsThe National Financial Reporting Authority (NFRA) is stepping up its game with the launch of four specialized divisions that will focus on ...
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...
Sebi fines Axis Trustee Services Rs 10 lakhsSebi has fined Axis Trustee Services ₹10 lakh. The penalty is for not promptly disclosing a ruling against former REIT executive Aravind Ma...
Sebi appoints corporate law veteran KVR Murty as its whole-time memberIndia’s Securities and Exchange Board of India appoints KVR Murty as Whole Time Member in Mumbai, bringing over 30 years experience in publ...
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 publishes list of auditors who have not filed returns for FY20According to rules, all auditors are required to file their annual returns with NFRA by filling a form NFRA-2 on or before 30 November ever...
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 ...
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...
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 ...
Audit firms examine NFRA order in ILFS case, to plan for future implicationsThe NFRA report has again put a spotlight on the confusion on what services can be provided by an auditor to its audit clients.
NFRA bars ex-Deloitte CEO for 7 years, slaps Rs 25L fine for his role in IL&FS fraud“Udayan Sen is debarred for the period of seven years from being appointed as an auditor or internal auditor or undertaking any audit in re...
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.