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Statutory Audit

Latest Articles


Auditors and Their Appointment Under Companies Act, 2013

Company Law : Understand the appointment process, tenure, and reporting obligations for auditors under the Companies Act, 2013. Key rules, forms...

January 26, 2025 1521 Views 0 comment Print

एनएफआरए ने आडिट क्वालिटी पर फिर उठाए सवाल, खामियां उजागर

CA, CS, CMA : एनएफआरए ने बीएसआर एंड कंपनी और लोधा एंड कंपनी के आ...

December 22, 2024 1257 Views 0 comment Print

Difference Between Due Diligence and Statutory Audit

CA, CS, CMA : Discover the distinctions between due diligence and statutory audit. Learn their essence, components, and how they impact decision...

May 11, 2024 1767 Views 0 comment Print

Planning for an effective bank branch Statutory Audit

CA, CS, CMA : Discover essential steps for an effective bank branch statutory audit, from initial preparation to finalization of reports. Explor...

March 16, 2024 4398 Views 1 comment Print

Practical Guide for First-Time Statutory Bank Branch Auditors

CA, CS, CMA : Unlock your auditing potential with our practical guide for first-time statutory branch auditors in the banking sector, covering R...

February 23, 2024 2061 Views 0 comment Print


Latest News


NFRA Flags Audit Deficiencies at PwC Firms

Company Law : NFRA inspection of PwC firms (PWCA & PW& Co CA) reveals deficiencies in related party transaction verification and documentation, ...

February 14, 2025 2076 Views 0 comment Print

NFRA Inspection Report 2023 on Lodha & Co. Audit Quality

Company Law : Summary of NFRA's audit quality inspection of Lodha & Co., highlighting key deficiencies in audit documentation, independence poli...

January 15, 2025 14286 Views 0 comment Print

NFRA Inspection Report 2023: Audit Review of M/s BSR & Co. LLP

Company Law : NFRA's 2023 inspection of M/s BSR & Co. LLP highlighted improvements in audit practices, independence policies, and documentation ...

January 15, 2025 804 Views 0 comment Print

NFRA Inspection Report 2023 on MSKA & Associates Audit Quality

Company Law : NFRA's 2023 inspection of MSKA & Associates highlights audit deficiencies, governance issues, and non-compliance with standards. D...

January 15, 2025 786 Views 0 comment Print

ICAI Introduces Audit Quality Maturity Model Version 2.0

CA, CS, CMA : ICAI Audit Quality Maturity Model v2.0 is mandatory for firms auditing listed entities, banks, and insurance companies. It assesse...

August 22, 2024 1611 Views 0 comment Print


Latest Judiciary


CA Barred for Five Years by NCLT for Failing Duties as Statutory Auditor

CA, CS, CMA : Read the full NCLT judgment/order on Union of India Vs CA. Ramaiah Nataraja. Bengaluru CA barred from statutory auditor role for c...

July 16, 2024 3618 Views 0 comment Print

Madras HC condones Delay in Income Tax Return filing by co-op credit society

Income Tax : Read the full text of Madras High Court's judgment on condoning the delay in income tax return filing by Kalvadangam Primary Agric...

April 11, 2024 3873 Views 0 comment Print

Auditors cannot escape being probed if they resign; Section 140(5) of Companies Act constitutional: SC

Company Law : Challenge to constitutional validity of section 140(5) of Companies Act, 2013 fails and it is observed and held that section 140(5...

May 4, 2023 18714 Views 0 comment Print

RD approves Removal of Statutory Auditor of Company

Company Law : The company has stated in its application that the auditor was not able to conduct the audit in timely manner also the auditor was...

May 10, 2022 3894 Views 0 comment Print

NCLAT dismisses pleas of IL&FS auditors Deloitte & KPMG against impleadment

Company Law : Various acts  of IL&FS like over borrowing were prejudicial to the public interest which had cascading impact on various sectors ...

March 4, 2020 3177 Views 0 comment Print


Latest Notifications


NFRA Penalizes Statutory Auditor of Religare Finvest for Misconduct

Company Law : NFRA imposes Rs. 5 lakh penalty and 5-year debarment on CA Neeraj Bansal for professional misconduct during Religare Finvest Ltd's...

January 30, 2025 17949 Views 0 comment Print

NFRA Penalizes Deloitte LLP and Partners for Audit Misconduct

Company Law : The National Financial Reporting Authority imposes penalties on Deloitte and auditors for misconduct in the ZEEL audit, resulting ...

December 23, 2024 10554 Views 0 comment Print

Disclaimer of Opinion not exempts auditors from statutory obligations: NFRA

Company Law : CA Chirag Doshi faces a ₹5 lakh penalty for professional misconduct in the statutory audit of Ushdev International Limited for F...

October 21, 2024 6726 Views 0 comment Print

NFRA Penalizes Venkatesh & Co. for Audit Misconduct in CDEL Case

Income Tax : NFRA imposes penalties on Venkatesh & Co. and debarment of partners for negligence during the audit of Coffee Day Enterprises Ltd,...

October 10, 2024 5220 Views 0 comment Print

Responsibilities of Principal Auditor and Other Auditors in Group Audits

Company Law : NFRA reiterates that auditors shall understand their responsibility under CA 2013 and SA 600 with their concomitant responsibiliti...

October 3, 2024 1899 Views 0 comment Print


Latest Posts in Statutory Audit

NFRA Flags Audit Deficiencies at PwC Firms

February 14, 2025 2076 Views 0 comment Print

NFRA inspection of PwC firms (PWCA & PW& Co CA) reveals deficiencies in related party transaction verification and documentation, raising concerns about audit quality.

NFRA Penalizes Statutory Auditor of Religare Finvest for Misconduct

January 30, 2025 17949 Views 0 comment Print

NFRA imposes Rs. 5 lakh penalty and 5-year debarment on CA Neeraj Bansal for professional misconduct during Religare Finvest Ltd’s FY 2017-18 audit.

Auditors and Their Appointment Under Companies Act, 2013

January 26, 2025 1521 Views 0 comment Print

Understand the appointment process, tenure, and reporting obligations for auditors under the Companies Act, 2013. Key rules, forms, and fraud reporting explained.

NFRA Inspection Report 2023 on Lodha & Co. Audit Quality

January 15, 2025 14286 Views 0 comment Print

Summary of NFRA’s audit quality inspection of Lodha & Co., highlighting key deficiencies in audit documentation, independence policies, and quality control systems.

NFRA Inspection Report 2023: Audit Review of M/s BSR & Co. LLP

January 15, 2025 804 Views 0 comment Print

NFRA’s 2023 inspection of M/s BSR & Co. LLP highlighted improvements in audit practices, independence policies, and documentation controls while noting key deficiencies.

NFRA Inspection Report 2023 on MSKA & Associates Audit Quality

January 15, 2025 786 Views 0 comment Print

NFRA’s 2023 inspection of MSKA & Associates highlights audit deficiencies, governance issues, and non-compliance with standards. Detailed findings and areas for improvement.

NFRA Penalizes Deloitte LLP and Partners for Audit Misconduct

December 23, 2024 10554 Views 0 comment Print

The National Financial Reporting Authority imposes penalties on Deloitte and auditors for misconduct in the ZEEL audit, resulting in penalties and debarment.

एनएफआरए ने आडिट क्वालिटी पर फिर उठाए सवाल, खामियां उजागर

December 22, 2024 1257 Views 0 comment Print

एनएफआरए ने बीएसआर एंड कंपनी और लोधा एंड कंपनी के आडिट में खामियां बताते हुए रिपोर्ट जारी की, जिसमें आडिट क्वालिटी में सुधार की जरूरत है।

Disclaimer of Opinion not exempts auditors from statutory obligations: NFRA

October 21, 2024 6726 Views 0 comment Print

CA Chirag Doshi faces a ₹5 lakh penalty for professional misconduct in the statutory audit of Ushdev International Limited for FY 2017-18, per NFRA order.

NFRA Penalizes Venkatesh & Co. for Audit Misconduct in CDEL Case

October 10, 2024 5220 Views 0 comment Print

NFRA imposes penalties on Venkatesh & Co. and debarment of partners for negligence during the audit of Coffee Day Enterprises Ltd, exposing Rs 3,535 crore fund diversion.

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