NFRA clears 40 audit rules in spite of ICAI objections
Nov 12, 2024 · The National Financial Reporting Authority (NFRA) approved 40 audit standards, aligning several with global norms despite objections from the Institute of Chartered Accountants of India. This decision reinforces NFRA's authority over audit standard setting, potentially ending ICAI's attempts to reclaim lost powers.
NFRA in News | National Financial Reporting Authority | India
Oct 19, 2024 · NFRA in News; Title Date View / Download; NFRA Chairperson, Dr Ajay Bhushan Prasad Pandey talked about aligning national standards with global norms: 19/10/2024
NFRA flags deficiencies in BSR & Co's audit of related party ...
3 days ago · Home / Companies / News / NFRA flags deficiencies in BSR & Co's audit of related party transactions. ... NFRA also flagged the lack of a documented business rationale for the investment, suggesting the funds were effectively diverted for personal use by the promoter. Further, the inspection highlighted that the arrangement likely violated ...
NFRA: Regulators and ICAI Align Key Accounting Standard | Delhi News …
Aug 26, 2024 · New Delhi: After months of discussion, the National Financial Reporting Authority (NFRA) on Monday decided to move towards the International Standard of Audit 600 (ISA 600) for all listed companies, barring public sector companies and state-run banks and their branches.
Latest global audit norm adoption on regulators' table to upgrade ...
Aug 20, 2024 · The National Financial Reporting Authority (NFRA) is set to hold a meeting next week with key financial regulators, including the Reserve Bank of India, the Securities and Exchange Board of India (Sebi), and the Institute of Chartered Accountants of India (ICAI), and the Ministry of Corporate Affairs to adopt the revised International Standard ...
NFRA
NFRA Circular on Responsibilities of Principal Auditor and Other Auditors in Group Audits New
NFRA at six: Top auditors urge stronger engagement and tech use …
Oct 1, 2024 · As the NFRA marks six years of enhancing audit quality in India, top auditors call for stronger governance engagement, technological adoption, and a remedial approach. On October 1, 2024, the National Financial Reporting Authority (NFRA), India’s independent audit watchdog, marked six years of its establishment.
NFRA : Latest News Headlines, Videos and Photo Galleries on NFRA ...
National Financial Reporting Authority (NFRA) Chairperson Ajay Bhushan Prasad Pandey on Thursday underscored the need for improving corporate governance and aligning Indian auditing with global standards to attract investors.
NFRA flags deficiencies in BSR & Co's audit of related party ...
3 days ago · The National Financial Reporting Authority (NFRA) identifies significant deficiencies in BSR & Co LLP's audit practices, focusing on related party transactions. The audit regulator's August 2024 inspection found lapses in compliance with auditing standards and the Companies Act 2013, revealing undocumented business rationales and potential violations involving substantial financial transactions.
NFRA On SA 600: Outdated SA 600 poses risk of future corporate …
Oct 4, 2024 · NFRA On SA 600: In an exclusive interview with ETCFO, R. Narayanaswamy, part-time member of NFRA, discusses the legal framework for auditing standards, challenges to NFRA’s authority, the power dynamics between NFRA and ICAI, and the need for accountability in financial reporting.