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 ...
CCI introduces General Regulations 2024, revising the 2009 rules. Key changes address stakeholder concerns on applications, submission procedures, and inquiry timelines.
Record note/Minutes of the 17th Meeting of the National Financial Reporting Authority held on 26 August 2024 The 17th Meeting of the National Financial Reporting Authority was held on Monday, 26.08.2024. The meeting was chaired by Dr. Ajay Bhushan Prasad Pandey, Chairperson, NFRA. The meeting was attended by: 1. Full Time Members: (a) Dr. Praveen […]
NFRA penalizes CA Santosh Deshmukh ₹5L & 1-year debarment for audit lapses in Sanwaria Consumer Ltd’s FY 2017-18 audit. Key audit failures include inventory valuation.
NFRA imposes Rs 1 lakh penalty on CA Lavitha Shetty for failing to submit complete information on audit revenue from related parties during MACEL audit proceedings.
ISA 600 draft may impact small audit firms in India by concentrating audit work among larger firms. A balanced approach is needed to protect SMPs and the audit ecosystem.
एनएफआरए सूचीबद्ध कंपनियों में वित्तीय धोखाधड़ी को रोकने के लिए समूह लेखा परीक्षकों द्वारा सहायक लेखा परीक्षकों की रिपोर्ट की सख्त समीक्षा की मांग करता है, ऑडिट मानक 600 में संशोधन का प्रस्ताव करता है।
NFRA penalizes BSR & Associates LLP ₹10 crores for audit lapses in Coffee Day Enterprises audit. Partners face fines and debarment.
Explore NFRA Order No. 019/2024 detailing penalties imposed on M/s Singh Ajay & Co. and CA Priyank Mittal for audit lapses in Vikas Proppant and Granite Limited’s financial statements.
Explore NFRA Order No. 018/2024 on CA Yogesh Mahipal for audit misconduct findings and penalties under Companies Act 2013. Detailed analysis of audit failures and implications.
Learn about NFRA action against CA Kashinath Chaturvedi for professional misconduct in auditing DHFL branches. Understand the findings, penalties, and implications.
