Company Law : The Order No. 002/2024 Date: 05.01.2024, centered around CA Anil Chauhan, the Engagement Partner (EP) of Anil Chauhan & Associates...
Company Law : Explore the implications of recent debarments by the National Financial Reporting Authority (NFRA) on Chartered Accountants and fi...
Company Law : Coffee Day Enterprises Limited (CDEL) operates in various sectors, including coffee retailing, logistics, financial services, and...
Company Law : Stay compliant and avoid NFRA penalty proceedings with this summary and checklist for Chartered Accountants. Learn from the case o...
Company Law : Explore the recent judgments by NFRA against auditors in India. Learn from the analysis of violations, including unauthorized appo...
Company Law : Delve into the NFRA order controversy with detailed analysis on penalty imposition, opinion disparities, and key issues. Gain insi...
Company Law : Dive into NFRA detailed Financial Reporting Quality Review (FRQRR) of PSP Projects Ltd. Uncover high and low impact observations, ...
CA, CS, CMA : Explore NFRA's RFP for Chartered Accountant firms/LLPs/Proprietorships to compile, verify books, handle taxation matters. Key date...
Corporate Law : Explore the Ministry of Corporate Affairs draft policy for pre-legislative consultation and a comprehensive review of rules and re...
Company Law : The NFAR Annual Report for 2022-23 reflects a pivotal year marked by significant achievements and milestones. This comprehensive r...
Corporate Law : Delhi High Court refuses interim relief against NFRA penalties imposed on CAs and CA firm in the Reliance Capital audit lapses cas...
Corporate Law : Delhi High Court halts NFRA proceedings against CA Unnikrishnan Menon, challenging show cause notice for irregularities in Quess C...
Corporate Law : Explore NFRA Order No. 019/2024 detailing penalties imposed on M/s Singh Ajay & Co. and CA Priyank Mittal for audit lapses in Vika...
Corporate Law : Explore NFRA Order No. 018/2024 on CA Yogesh Mahipal for audit misconduct findings and penalties under Companies Act 2013. Detaile...
Company Law : Learn about NFRA action against CA Kashinath Chaturvedi for professional misconduct in auditing DHFL branches. Understand the find...
Company Law : Explore NFRA's order under Companies Act 2013 on CA Krishna Bihari Chaturvedi for audit misconduct at DHFL branches in FY 2017-18....
Company Law : The NFRA fines Shridhar & Associates and CA Ajay Vastani for professional misconduct in auditing RCFL's financials for FY 2018-19....
NFRA is a creation of Sec 132 of the Companies Act, 2013. Though the section was enacted with the rest of the Act in 2013, it was finally notified only in 2018, after the PNB scam came to light. NFRA’s functions are laid down by sub section (2) of Sec 132 as covering:
NFRA has received 17 comment letters from Stakeholders, which includes important Industry Bodies, Large Accounting Firms and Research/Academia among others. Overall, stakeholders have expressed support for NFRA’s proposals to proactively promote stakeholder engagement.
The Audit Firm’s reporting in the “Basis of opinion” section of Independent Auditors Report is false and misleading. he Audit Firm did not obtain sufficient appropriate audit evidence to understand the impact that the insolvency petition against JIL had on the Company (JAL).
FORM NFRA – 2 is governed by Section 132 of the Companies Act, 2013 and rule 3 and 5 of the National Financial Reporting Authority Rules, 2018. This is a Annual Return to be filed by Auditor with the National Financial Reporting Authority (NFRA). Applicability of FORM NFRA – 2 Applicable on Auditors of below mentioned companies: […]
Ministry of Corporate Affairs National Financial Reporting Authority seeks comments/suggestions from public and stakeholders on consultation paper on NFRA’s engagement with its stakeholders Posted On: 08 JUN 2021 7:00PM by PIB Delhi National Financial Reporting Authority (NFRA) has set up a Technical Advisory Committee (TAC) to, inter alia, provide NFRA with inputs from the perspective […]
This new Form NFRA-2 has to be filed by the Statutory Auditor of the Company in pursuance of section 132 of Companies Act, 2013 and Rule 5 of NFRA Rules, 2018.
Notice For Inviting Applications For Engagement Of Retired Principal Private Secretary (PPS) / Private Secretary (PS) / Personal Assistant (PA) From Central Government As Consultants
The appointment of DHS as the statutory auditor of IL&FS Financial Services Ltd. (IFIN) for the year 2017-18 was illegal, since DHS was not eligible to be appointed as such auditor due to violation of Sec 141(3)(e) (subsisting business relationships on the date of appointment) and Sec 141(3)(i) (provision of non-audit services directly or indirectly) of the Companies Act, 2013.
The appointment of BSR as the statutory auditor of IL&FS Financial Services Ltd. (IFIN) for the year 2017-18 was illegal, since BSR was not eligible to be appointed as such auditor due to violation of Sec 141(3)(e) (subsisting business relationships on the date of appointment) and Sec 141(3)(i) (provision of non-audit services directly or indirectly) of the Companies Act, 2013. BSR’s continuation as such statutory auditor was also violative of Sec 141(4).
Order Under Section 132(4) of the Companies Act in respect of the Show Cause Notice issued to CA Shrenik Baid (Membership No 103884) Extract from the order D. PENALTY 199. As discussed in detail in the above paras, the charges framed against CA Shrenik Baid in the SCN have been held to have been proved. […]
