Company Law : Understand the appointment process, tenure, and reporting obligations for auditors under the Companies Act, 2013. Key rules, forms...
CA, CS, CMA : एनएफआरए ने बीएसआर एंड कंपनी और लोधा एंड कंपनी के आ...
CA, CS, CMA : Discover the distinctions between due diligence and statutory audit. Learn their essence, components, and how they impact decision...
CA, CS, CMA : Discover essential steps for an effective bank branch statutory audit, from initial preparation to finalization of reports. Explor...
CA, CS, CMA : Unlock your auditing potential with our practical guide for first-time statutory branch auditors in the banking sector, covering R...
Company Law : NFRA inspection of PwC firms (PWCA & PW& Co CA) reveals deficiencies in related party transaction verification and documentation, ...
Company Law : Summary of NFRA's audit quality inspection of Lodha & Co., highlighting key deficiencies in audit documentation, independence poli...
Company Law : NFRA's 2023 inspection of M/s BSR & Co. LLP highlighted improvements in audit practices, independence policies, and documentation ...
Company Law : NFRA's 2023 inspection of MSKA & Associates highlights audit deficiencies, governance issues, and non-compliance with standards. D...
CA, CS, CMA : ICAI Audit Quality Maturity Model v2.0 is mandatory for firms auditing listed entities, banks, and insurance companies. It assesse...
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 : Various acts of IL&FS like over borrowing were prejudicial to the public interest which had cascading impact on various sectors ...
Company Law : NFRA imposes Rs. 5 lakh penalty and 5-year debarment on CA Neeraj Bansal for professional misconduct during Religare Finvest Ltd's...
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...
ICAI Auditing and Assurance Standards Board – Expert Panel for Addressing Queries related to Statutory Audit pertaining to Auditing Aspects
Firm of Chartered Accountants cannot accept branch Audit of the Bank if one of the partners has taken the loan from any branch of that bank. The members should not place themselves in position which would either compromise or jeopardize their independence.
The concurrent Auditor of a Branch can undertake the assignment of LFAR only with respect to Branches which are not subject to Statutory Audit. With respect to Branches which are subject to Statutory Audit, the LFAR assignment shall be undertaken by the Statutory Auditor.
EY ban in Germany has sent shockwaves through auditing profession, with EY facing a two-year ban from taking on audits of new public interest entities as a result of its failures as auditor of Wirecard.
An audit trail is a record of all the events or activities that have occurred within a computer system or application. It is a chronological sequence of events that provides a way to trace the history of a particular transaction, operation or event.
Explore the rotation of auditors team under the Companies Act, 2013. Learn about the provision, its implications, and considerations for companies.
The National Financial Reporting Authority (NFRA) has published its audit quality inspection guidelines as a step towards further improving the quality of audit profession. The inspection guidelines are on the lines of the best practices followed by International Audit Regulators. In fact, Audit quality inspections are integral to the functioning of independent audit regulators, world-wide. […]
1) Rule 5 of NFRA Rules 2018 (as amended from time to time) auditors of class of companies specified in Rule 3 of the above referred Rules are required to file with NFRA an annual return in specified form viz. NFRA-2, on or before 30th November every year. However, in order to provide sufficient time, […]
Explore the importance of auditor consent under the Companies Act, 2013, and access a sample format for the Auditor Consent Letter, ensuring compliance with statutory provisions for appointment.
A comprehensive checklist for conducting a statutory audit. Learn about the documents required and the audit procedures to ensure compliance.
