Company Law : The issue concerns ineffective communication between auditors and governance bodies despite existing legal requirements. NFRA clar...
CA, CS, CMA : Analysis of legal and ethical limits on an Independent Director becoming Statutory Auditor, focusing on cooling-off restrictions u...
Company Law : Failure of the Board to appoint the first auditor within 30 days shifts the power to shareholders. The case clarifies strict adher...
Company Law : The case highlights how inadequate communication between auditors and those charged with governance violates auditing standards. T...
Company Law : Explains the legal requirement for signing financial statements and clarifies that responsibility rests with management, not the a...
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...
Company Law : NFRA found significant gaps in audit documentation and quality control systems during inspection. The report emphasizes the need f...
Company Law : The issue involved deficiencies in audit documentation and firm-wide quality control systems. The report highlights the need for s...
Company Law : NFRA found major deficiencies in audit documentation and archival practices. The report highlights the need for stronger controls ...
CA, CS, CMA : Supreme Court permits NFRA to continue audit regulatory proceedings against CAs where no final orders exist, but stays execution o...
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...
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...
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...
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...
Company Law : The CAG has issued revised directions for statutory auditors of government companies, effective May 23, 2025, covering investment ...
Company Law : The National Financial Reporting Authority imposes penalties on Deloitte and auditors for misconduct in the ZEEL audit, resulting ...
Company Law : CA Chirag Doshi faces a ₹5 lakh penalty for professional misconduct in the statutory audit of Ushdev International Limited for F...
Income Tax : NFRA imposes penalties on Venkatesh & Co. and debarment of partners for negligence during the audit of Coffee Day Enterprises Ltd,...
Company Law : NFRA reiterates that auditors shall understand their responsibility under CA 2013 and SA 600 with their concomitant responsibiliti...
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’s 2023 inspection of MSKA & Associates highlights audit deficiencies, governance issues, and non-compliance with standards. Detailed findings and areas for improvement.
The National Financial Reporting Authority imposes penalties on Deloitte and auditors for misconduct in the ZEEL audit, resulting in penalties and debarment.
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।
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 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.
NFRA reiterates that auditors shall understand their responsibility under CA 2013 and SA 600 with their concomitant responsibilities in related SAs such as SA 200, SA 220 (Revised), SA 230, SA 240, SA 300, SA 315 (Revised 2019), SA 320, SA 330, SA 450 and SA 701 towards obtaining sufficient and appropriate evidence in support of the auditor’s opinion on the group financial statements and carry out audit procedures accordingly.
ICAI Audit Quality Maturity Model v2.0 is mandatory for firms auditing listed entities, banks, and insurance companies. It assesses practice management, HR, and digital competency.”
Invitation for CA firms to audit XBRL India. Requirements, eligibility criteria, application process, and terms. Apply by 09/08/2024. Learn more.
Read the full NCLT judgment/order on Union of India Vs CA. Ramaiah Nataraja. Bengaluru CA barred from statutory auditor role for colluding with company’s fraudulent activities.
