NFRA

NFRA-2 Form- FAQs

Company Law - Frequently Asked Questions (FAQs) Pertaining To NFRA-2 Form Q 1. Form NFRA 2 is only available in PDF version as part of the Gazette notification. Since the e-form is not available, we are not able to collate the required information. Considering the timeline for submission of NFRA 2 is November 30, 2019, please advise when […]...

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Note on Form NFRA -2 – Auditor’s Return

Company Law - Note On Form NFRA -2 – Auditor’s Return (Annual Return to Be Filed By Auditor With The National Financial Reporting Authority) Key Highlights of Form NFRA -2 – Auditor’s Return 1. NFRA-2 e-Form live since 9th December 2019. 2. Due date of Filing form NFRA -2 : within 210 days from the deployment of this […]...

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How Auditors check compliance of IndAS 19 & AS 15 Revised 2005

Company Law - As per provisions of Section 129 of the Companies Act 2013, each company has to prepare the Financial Statement such as Balance Sheet & Profit/Loss Accounts at the closure of each financial year in compliance of Accounting Standards as stipulated in Section 133 of the Companies Act 2013, so that they can give a true and fair view ...

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Applicability of Filing Form NFRA-1

Company Law - Applicability of filing Form NFRA-1 1. Entities Governed by NFRA (Rule 3(1) of NFRA Rule, 2018 a) Companies whose securities are listed on any stock exchange in India or outside India; b) Unlisted public companies fulfilling any of the following criteria as on the 31st March of immediately preceding Financial Year: having paid-up capital ...

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Analysis of NFRA (Amendments), Rules 2019

Company Law - MCA), Government of India wide notification dated 05th September, 2019 has amended the National Financial Reporting Authority Rules, 2018, (NFRA Rules). These rules may be called the National Financial Reporting Authority (Amendment) Rules, 2019 {NFRA (Amendments) Rules, 2019}....

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NFRA founds Issues in statutory audit of IL&FS done by Deloitte

Company Law - NFRA has issued Audit Quality Review report of the statutory audit for year 2017-18 of IL&FS Financial Services Limited. The statutory auditor for this engagement was Deloitte Haskins and Sells LLP....

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Pre-requisites for submission of NFRA-1 form

Company Law - During the process of submitting NFRA-1 form, user needs to have following details/documents before proceeding with form filling. In case of Indian Body Corporate: 1. PAN of Indian authorized individual 2. PAN of body corporate 3. DIN of Director/Membership No. of CS/PAN of Manager or CEO or CFO 4. Income tax PAN of auditor/audit firm [&h...

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Last date of filling up Form NFRA-1 will be 31.07.2019- NFRA

Company Law - It is intimated that NFRA-1 Form for intimation of appointment of Auditors to NFRA has been deployed on the website of NFRA (nfra.gov.in) and accordingly the last date of filing the same by the Entities concerned will be 31.07.2019. National Financial Reporting Authority 8th Floor Hindustan Times Building, K.G. Marg New Delhi Ph-011-23355...

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Engagement as Consultant in MCA and NFRA

Company Law - Seeking applications from CAs based in Delhi/NCR for engagement as Consultant in MCA and NFRA Ministry of Corporate affairs (MCA) and National Financial Reporting Authority (NFRA) invites applications from Chartered Accountants (CAs) based in Delhi/NCR having 2 to 5 years plus of post- qualification experience. The selected candidates wil...

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Committee of Experts report on Regulating audit firms & Networks

Company Law - Committee of Experts submits its report on Regulating audit firms and the Networks The Committee of Experts has submitted its report on Regulating audit firms and the Networks to the Government of India through the Secretary, Ministry of Corporate Affairs. The Committee was constituted on April 20, 2018 pursuant to the directions of the...

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NFRA bans another auditor in IL&FS case for 5 Years & levied penalty

NFRA Order No. NF-20012/1/2020 - (23/07/2020) - NFRA makes the following order in terms of Sec 132(4)(c) of the Companies Act, 2013. (i) A monetary penalty of Rs Five Lakhs is levied upon CA Rukshad Daruvala. (ii) In addition, CA Rukshad Daruvala is debarred for a period of five years from being appointed as an auditor or internal auditor or unde...

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NFRA bars ex-Deloitte CEO for 7 years & levies Penalty

File No.NF-200121112020-1/o Secy-NFRA - (22/07/2020) - NFRA makes the following order in terms of Sec 132(4)(c) of the Companies Act, 2013. (i) A monetary penalty of Rs Twenty Five lakhs is levied upon CA Udayan Sen. (ii) In addition, CA Udayan Sen is debarred for a period of seven years from being appointed as an auditor or internal auditor or undertak...

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Extension of last date of filing of Form NFRA-2 to 270 days

General Circular No. 26/2020 - (06/07/2020) - It has been decided that the time limit for filing of Form NFRA­-2, for the reporting period FY 2018-19, will be 270 days from the date of deployment of this form on the website of National Financial Reporting Authority (NFRA)....

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Last date of filing of Form NFRA-2 extended to 210 days from deployment date

General Circular No. 19/2020 - (30/04/2020) - It has been decided that the time limit for filing of Form NFRA-2, for the reporting period Financial Year 2018-19, will be 210 days from the date of deployment of this form on the website of National Financial Reporting Authority (NFRA)....

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Draft Procedure for Submission of Audit Files to NFRA

Notification No. NF-20011/3/2020 - (28/04/2020) - NFRA proposes to prescribe the procedures to be followed by all entities regulated by NFRA for submission of Audit Files to NFRA. NFRA invites comments from regulated entities on the procedure described in this draft document in Annexure A....

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Recent Posts in "NFRA"

NFRA-2 Form- FAQs

Frequently Asked Questions (FAQs) Pertaining To NFRA-2 Form Q 1. Form NFRA 2 is only available in PDF version as part of the Gazette notification. Since the e-form is not available, we are not able to collate the required information. Considering the timeline for submission of NFRA 2 is November 30, 2019, please advise when […]...

Read More
Posted Under: Company Law |

NFRA bans another auditor in IL&FS case for 5 Years & levied penalty

NFRA Order No. NF-20012/1/2020 (23/07/2020)

NFRA makes the following order in terms of Sec 132(4)(c) of the Companies Act, 2013. (i) A monetary penalty of Rs Five Lakhs is levied upon CA Rukshad Daruvala. (ii) In addition, CA Rukshad Daruvala is debarred for a period of five years from being appointed as an auditor or internal auditor or undertaking any […]...

Read More

NFRA bars ex-Deloitte CEO for 7 years & levies Penalty

File No.NF-200121112020-1/o Secy-NFRA (22/07/2020)

NFRA makes the following order in terms of Sec 132(4)(c) of the Companies Act, 2013. (i) A monetary penalty of Rs Twenty Five lakhs is levied upon CA Udayan Sen. (ii) In addition, CA Udayan Sen is debarred for a period of seven years from being appointed as an auditor or internal auditor or undertaking […]...

Read More

Extension of last date of filing of Form NFRA-2 to 270 days

General Circular No. 26/2020 (06/07/2020)

It has been decided that the time limit for filing of Form NFRA­-2, for the reporting period FY 2018-19, will be 270 days from the date of deployment of this form on the website of National Financial Reporting Authority (NFRA)....

Read More

Note on Form NFRA -2 – Auditor’s Return

Note On Form NFRA -2 – Auditor’s Return (Annual Return to Be Filed By Auditor With The National Financial Reporting Authority) Key Highlights of Form NFRA -2 – Auditor’s Return 1. NFRA-2 e-Form live since 9th December 2019. 2. Due date of Filing form NFRA -2 : within 210 days from the deployment of this […]...

Read More
Posted Under: Company Law |

How Auditors check compliance of IndAS 19 & AS 15 Revised 2005

As per provisions of Section 129 of the Companies Act 2013, each company has to prepare the Financial Statement such as Balance Sheet & Profit/Loss Accounts at the closure of each financial year in compliance of Accounting Standards as stipulated in Section 133 of the Companies Act 2013, so that they can give a true and fair view ...

Read More
Posted Under: Company Law |

Last date of filing of Form NFRA-2 extended to 210 days from deployment date

General Circular No. 19/2020 (30/04/2020)

It has been decided that the time limit for filing of Form NFRA-2, for the reporting period Financial Year 2018-19, will be 210 days from the date of deployment of this form on the website of National Financial Reporting Authority (NFRA)....

Read More

Draft Procedure for Submission of Audit Files to NFRA

Notification No. NF-20011/3/2020 (28/04/2020)

NFRA proposes to prescribe the procedures to be followed by all entities regulated by NFRA for submission of Audit Files to NFRA. NFRA invites comments from regulated entities on the procedure described in this draft document in Annexure A....

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MCA Extend last date of filing of Form NFRA-2 for FY 2018-19

General Circular No. 07/2020 (05/03/2020)

General Circular No. 07/2020 F. No.713912019-CL-I Government of India Ministry of CorPorate Affairs 5*’ Floor, ‘A’Wing, Shastri Bhawan, Dr. R. P. Road, New Delhi Dated: 05.03.2020 To A1l RDs, All RoC, The Stakeholders. Subject: Extension of the last date of filing of Form NFRA-2 reg. Sir, In continuation of the Ministry&...

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Applicability of Filing Form NFRA-1

Applicability of filing Form NFRA-1 1. Entities Governed by NFRA (Rule 3(1) of NFRA Rule, 2018 a) Companies whose securities are listed on any stock exchange in India or outside India; b) Unlisted public companies fulfilling any of the following criteria as on the 31st March of immediately preceding Financial Year: having paid-up capital ...

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Posted Under: Company Law |

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