Audit News

NFRA Rolls Out Audit Practice Toolkits and Survey 2025 to Support Small & Medium Audit Firms

04 December 2025 at 06:59

NFRA launches nationwide outreach programmes and its first-ever Audit Firms Survey 2025, introduces 'Audit Practice Toolkits' and strengthens audit quality through revised standards, inspections, and capacity-building initiatives.

Posted in Audit | 6516 Views

ICAI Clarifies Auditor's Opinion Requirements in New UDIN FAQs

27 October 2025 at 06:33

ICAI releases FAQs clarifying when an Auditor's Opinion is mandatory under the UDIN system. The guidance outlines cases for GST, Tax Audits and other assurance functions, ensuring compliance with auditing standards and reporting consistency.

Posted in Audit | 5955 Views

Centre Likely to Relax Advertising Rules for Chartered Accountants

25 October 2025 at 10:22

ICAI to propose changes easing advertising rules for CAs, boosting visibility, growth, and competitiveness of domestic audit and consultancy firms.

Posted in Audit | 4926 Views

ICAI Tightens Fraud Detection Norms for Financial Statements with Stricter Review Parameters

25 October 2025 at 06:18

ICAI has tightened fraud detection norms with new financial review parameters for FY24, focusing on high-risk companies, insolvency cases, and stricter scrutiny through its Financial Reporting Review Board (FRRB).

Posted in Audit | 7908 Views

ICAI Invites Comments on Exposure Drafts of New Standards on Internal Audit (SIAs)

17 October 2025 at 05:42

ICAI's Internal Audit Standards Board invites comments on Exposure Drafts of new Standards on Internal Audit (SIAs) and Quality Standards (QSIAs). Last date to submit feedback: October 23, 2025.

Posted in Audit | 687 Views

CA Firm's Re 1 Audit Fee Sparks Nationwide Debate on Audit Standards and Professional Ethics

29 September 2025 at 10:30

Chandra Gupta & Associates' Re1 statutory audit bid for NHAI subsidiary raises questions on audit quality, fee sustainability, and professional ethics in India...

Posted in Audit | 7878 Views

ICAI Expands Mandatory Scope of Audit Quality Maturity Model (AQMM) and Introduces Public Disclosure of AQMM Levels

12 August 2025 at 08:39

ICAI widens AQMM v2.0 scope from April 2026, adds more audit firms under mandatory compliance, and begins public disclosure of AQMM levels.

Posted in Audit | 678 Views

ICAI Issues Comprehensive Checklist for Certificates Issued by Chartered Accountants

11 August 2025 at 08:48

ICAI's Centre for Audit Quality issues an essential checklist for certificates by Chartered Accountants, ensuring compliance, accuracy and professional quality standards.

Posted in Audit | 32880 Views

ICAI Reconstitutes Expert Panel to Address Statutory Audit Queries pertaining to Auditing Aspects

12 July 2025 at 08:47

ICAI's Auditing and Assurance Standards Board has reconstituted its Expert Panel to address members' statutory audit queries for the 2025 audit season. The panel will offer technical guidance from 11th July to 30th September 2025.

Posted in Audit | 1677 Views

ICAI Issues FAQs on Guidance Note on Financial Statements for Non-Corporate Entities

09 July 2025 at 09:10

ICAI has issued FAQs on Guidance Note for financial statements of non-corporate entities, effective April 1, 2024, introducing standardised formats, revised classifications, and exemptions for MSMEs.

Posted in Audit | 14043 Views