Audit News

NFRA Initiates First Annual Inspection of Key Audit Firms by April 2024

20 February 2024 at 09:07

The National Financial Reporting Authority (NFRA) is set to embark on its inaugural annual review of prominent auditing organizations, including the industry's behemoths known as the Big Five.

Posted in Audit | 7101 Views

ICAI releases Guidance Note on Audit of Banks - 2024 Edition

15 February 2024 at 09:07

The area of operation / function of the Personal Banking Department is typically confined to resource mobilization, i.e., source of funds (for the bank) in the form of CASA deposits, term deposits, customer service and operations.

Posted in Audit | 5994 Views

ICAI Issues SA 800 (Revised), SA 805 (Revised) and SA 810 (Revised)

08 February 2024 at 09:22

Issuance of SA 800 (Revised), SA 805 (Revised), SA 810 (Revised)

Posted in Audit | 2679 Views

ICAI Releases Draft Bank Branch Auditors' Panel (MEF) for 2023-24

26 January 2024 at 08:00

Draft Bank Branch Auditors' Panel (MEF) for the year 2023-24

Posted in Audit | 3387 Views

NFRA Unveils Audit Quality Lapses in Big 4 Network Entities

23 December 2023 at 15:19

National Financial Reporting Authority (NFRA) Unveils Audit Quality Inspection Findings on Deloitte, PwC, EY, and KPMG Network EntitiesThe National Financial Reporting Authority (NFRA) has disclosed a series of deficiencies in the auditing-related ac

Posted in Audit | 7467 Views

ICAI releases Exposure Draft of Guidance Note on Audit of Banks (2024 Edition)

11 December 2023 at 08:57

Auditing and Assurance Standards BoardThe Institute of Chartered Accountants of India10th December, 2023Exposure Draft of Guidance Note on Audit of Banks (2024 Edition) The Auditing and Assurance Standards Board (AASB) of ICAI under the authority of

Posted in Audit | 3210 Views

Year-wise Breakdown of CA Firms Serving as Statutory Auditors in PSBs Over the Past 3 Years

05 December 2023 at 09:53

As per information received from RBI, Year-wise and PSBs-wise details of the total number of CA firms engaged as Statutory Central Auditors (SCA) and Statutory Branch Auditors (SBAs), in the last 3 years are annexed

Posted in Audit | 1 comments | 19506 Views

ICAI releases Exposure Draft of Standards on Auditing for LLPs

25 November 2023 at 08:49

Exposure Draft of Standards on Auditing for Limited Liability Partnerships

Posted in Audit | 3207 Views

Union Finance Secretary Envisions AI's Role in Transforming Auditing and Accounting

26 September 2023 at 08:46

The Union Finance Secretary, T.V. Somanathan, has expressed the view that Artificial Intelligence (AI) has the potential to replace some of the work currently done by auditors and accountants.

Posted in Audit | 5502 Views

Deloitte to quit as Adani Ports' auditor after flagging concerns

12 August 2023 at 14:00

Deloitte has decided to resign as the auditor of Adani Ports & Special Economic Zone Ltd. The decision appears to be linked to concerns over certain transactions highlighted in a report by Hindenburg Research.

Posted in Audit | 16269 Views