Audit News
Supreme Court Allows NFRA to Continue Proceedings Against CAs, but Restricts Final Orders
25 March 2025 at 08:32In a crucial development impacting India's audit and accounting sector, the SC has permitted the NFRA to proceed with disciplinary cases against CAs and audit firms even where no AQRRs have been prepared and final orders are yet to be passed.
ICAI Releases Guidance Note on Audit of Banks - 2025 Edition
19 February 2025 at 08:36The Auditing and Assurance Standards Board (AASB) of the Institute of Chartered Accountants of India (ICAI) has released the Guidance Note on Audit of Banks (2025 Edition). This annual publication serves as a comprehensive resource for auditors condu
Parliamentary Panel Questions MCA on NFRA's Performance, Budget Utilisation & Audit Oversight
18 February 2025 at 08:53The Standing Committee on Finance, chaired by BJP MP Bhartruhari Mahtab, has sought detailed written responses from the Ministry of Corporate Affairs (MCA) regarding the functioning of the National Financial Reporting Authority (NFRA)
ICAI Introduces Revised Merger and Demerger Guidelines 2024 for CA Firms
12 February 2025 at 07:14The Institute of Chartered Accountants of India (ICAI) has introduced the ICAI (Merger and Demerger of CA Firms) Guidelines, 2024, aimed at streamlining the process of firm mergers and demergers.
Draft Bank Branch Auditors' Panel (MEF) for 2024-25 Now Live
31 January 2025 at 09:15The Professional Development Committee of the Institute of Chartered Accountants of India (ICAI) is pleased to announce that the Draft Bank Branch Auditors' Panel (MEF) for the year 2024-25 has been published on the official ICAI website.
ICAI Releases Exposure Draft of Guidance Note on Audit of Banks (2025 Edition)
25 January 2025 at 08:56The Auditing and Assurance Standards Board (AASB) of the Institute of Chartered Accountants of India (ICAI) has released the Exposure Draft of the Guidance Note on Audit of Banks (2025 Edition) for public comments.
CA Claims to be Whistleblower in Torres Jewellery Fraud, Seeks Police Protection
13 January 2025 at 09:28Days after Mumbai police initiated an investigation into the alleged multi-crore Torres Jewellery fraud case, Abhishek Gupta, a 31-year-old chartered accountant, has approached the Bombay High Court seeking police protection.
Chartered Accountants to Report FCRA Breaches in NGO Audits: MHA Directive
07 January 2025 at 08:49The Foreigner's Division of the MHA has introduced new regulations requiring Chartered Accountants (CAs) to include specific declarations regarding compliance with the Foreign Contribution (Regulation) Act, 2010 (FCRA) when filing audit returns for NGOs.
ICAI Set to Finalize International Networking Guidelines for CA Firms by FY 2024-25
06 January 2025 at 08:54The Institute of Chartered Accountants of India (ICAI) is gearing up to finalize its international networking guidelines for Indian chartered accountant (CA) firms by the end of this fiscal year.
NFRA Slaps Rs 2 Crore Fine on Deloitte for Audit Lapses in ZEEL
26 December 2024 at 10:55The National Financial Reporting Authority (NFRA) has imposed a penalty of Rs 2 crore on Deloitte Haskins & Sells LLP for lapses in its audit of Zee Entertainment Enterprises Ltd (ZEEL) during the financial years 2018-19 and 2019-20.
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