Company Law : The issue concerns ineffective communication between auditors and governance bodies despite existing legal requirements. NFRA clar...
Company Law : The amendment introduces imprisonment for failure to comply with NFRA orders. Auditors now face criminal consequences beyond finan...
Company Law : The case highlights how inadequate communication between auditors and those charged with governance violates auditing standards. T...
CA, CS, CMA : CA. Shreyas Dharkar How Standards on Auditing, Guidance Notes, and Code of Ethics Collaboratively Reduce Punishments Imposed by NF...
CA, CS, CMA : NFRA's latest inspection report highlights audit lapses in top firms, raising concerns over auditor independence, ICFR verificatio...
Company Law : Provisional list of audit firms of listed companies yet to file NFRA-2 for 2023-24. Filing deadline was 30.11.2025; fines apply fo...
Company Law : NFRA introduced guidelines to evaluate audit firms’ compliance and quality control systems. The framework emphasizes governance,...
Corporate Law : NFRA has released detailed guidance focusing on auditing provisions and contingent liabilities under Ind AS 37. It emphasizes impr...
Company Law : The issue involved auditor independence concerns arising from network relationships and control weaknesses. The report highlights ...
Company Law : NFRA identified serious deficiencies in audit quality, including poor documentation and weak independence checks. The report highl...
Corporate Law : Delhi High Court dismisses Vivek Chhatre appeal against a single judges order. The case concerns the NFRA enforcement of accountin...
Corporate Law : The Delhi High Court dismisses a petition by a Chartered Accountant against an NFRA show cause notice, citing a recent Supreme Cou...
Company Law : Although this protection does not extend to civil consequences such as forfeiture of property, cancellation of licenses, or debarm...
CA, CS, CMA : Supreme Court permits NFRA to continue audit regulatory proceedings against CAs where no final orders exist, but stays execution o...
Company Law : Delhi HC examines NFRA's jurisdiction in issuing show-cause notices to Engagement Quality Control Reviewers (EQCRs) under Section ...
CA, CS, CMA : The vacancy circular highlights opportunities for professionals to contribute to financial reporting and auditing oversight. Appli...
Company Law : The Centre has amended rules governing part-time appointments to the national financial reporting regulator. The move updates the ...
Company Law : NFRA held that weak, undocumented communication between auditors and governance bodies violates auditing standards and governance ...
Company Law : NFRA requires statutory auditors to assemble, archive, and submit audit files promptly, ensuring audit documentation is authentic,...
Company Law : The Ministry of Corporate Affairs has appointed a new Chairperson and three full-time Members to the National Financial Reporting ...
Although this protection does not extend to civil consequences such as forfeiture of property, cancellation of licenses, or debarment from business activities, any retrospective application of a penal or quasi-penal provision must be narrowly interpreted.
Nitin Gupta assumes charge as NFRA Chairperson on July 23, 2025, alongside new full-time members, enhancing the authority’s leadership.
National Financial Reporting Authority seeks advocates for empanelment to represent it in courts and tribunals, covering litigation, drafting, and legal opinions.
CA. Shreyas Dharkar How Standards on Auditing, Guidance Notes, and Code of Ethics Collaboratively Reduce Punishments Imposed by NFRA Summary: This article explores how adherence to Standards on Auditing (SAs), Guidance Notes, and the Code of Ethics can help auditors minimize penalties imposed by the National Financial Reporting Authority (NFRA). It emphasizes the importance of […]
Supreme Court permits NFRA to continue audit regulatory proceedings against CAs where no final orders exist, but stays execution of existing final orders.
NFRA’s latest inspection report highlights audit lapses in top firms, raising concerns over auditor independence, ICFR verification, related party transactions & more.
NFRA’s 2023 inspection of Deloitte Haskins & Sells LLP finds improvements but notes ongoing issues in key audit areas.
NFRA highlights auditor responsibilities in related party transactions, emphasizing compliance with Ind AS 24, SEBI regulations, and the Companies Act 2013.
NFRA outlines audit strategy and planning requirements, emphasizing auditor communication with audit committees and compliance with auditing standards.
NFRA’s 2023 inspection of Walker Chandiok & Co. LLP reveals ongoing issues in independence and audit procedures.
