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 an independent regulator to oversee the auditing profession and accounting standards in India under the Companies Act, 2013. Section 132 of Companies Act, 2013 which deals with provisions relating to NFRA. It came into existence in October 2018 and having its offices at New Delhi. The present chairperson of it is Mr. Ashok […]
ICAI is extremely astounded and surprised to see that the Approach Paper on Revision of Existing Accounting Standards has now been returned by NFRA. It may be mentioned that while formulating the revised ASs as per the Approach Paper; transparent mechanism was followed by ICAI through all stages wherein exposure drafts were issued, comments thereon were discussed at ASB of ICAI
MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 4th January, 2022 S.O. 35(E).—In exercise of the powers conferred by sub-section (1) of section 458 of the Companies Act, 2013 (18 of 2013), the Central Government hereby delegates its powers under sub-section (11) of section 132 of the said Act to the National Financial Reporting Authority […]
Circular seeking applications from Chartered Accountants for engagements as Professionals in NFRA on contractual basis Government of India National Financial Reporting Authority ***** 7th Floor, Hindustan Times House, Kasturba Gandhi Marg, New Delhi Dated 17th November, 2021 A-12011/8/2019-ESTT-NFRA CIRCULAR National Financial Reporting Authority (NFRA) intends to engage eligible and interested persons as professionals purely on […]
t may be noted that audit is required for the purpose of giving true and fair view of the financials of a Company by an auditor who is an external party and independent of the transactions being done in the company, giving an unbiased opinion on the affairs of the Company. Such true and fair position of the financials is reported before various Government authorities such as Ministry of Corporate Affairs, Income Tax Authorities, GST Departments, Labor Law authorities etc.
NFRA Chairman can be Part Time in terms of Companies Act (CA with a Minimum Audit Experience of more than 25 years) It is important to ensure that only CAs with Audit experience of more than 10 years should be considered for nomination for any part-time or full-time members role in NFRA, except Ex-Officio Members.
9th November, 2021 To, Shri Ashok Kumar Gupta Chairperson National Financial Regulatory Authority [email protected] Subject: – Joint Representation on Consultation Paper – September, 2021 on Statutory Audit and Auditing Standards for Micro, Small and Medium Companies (MSMCs) 1. Bombay Chartered Accountants’ Society 2. Karnataka State Chartered Accountants Association 3. Chartered Accountants Association, Ahmedabad 4. Chartered […]
The importance of Audit of an organization is perhaps as same as what is oxygen for human being. It is a 360 degree review of all the organization working and to speculate whether the organization can expand or if there is some cost cutting to do.
Advise to file Form NFRA-2 Annual Return for the reporting period 2018-2019 and also for the year ending 31/03/2020, immediately without any delay, if not filed already
Mystery of Zero Audit Fees of 1.81 lacs Companies As per NFRA Report The answer is Big No? In No way It is possible to get Audit done work done without paying any single rupee for Audit!! Does any logic certify that? So How NFRA computed that – Wherefrom they have taken this data? NFRA […]
