The National Financial Reporting Authority (NFRA) has issued revised Standards on Auditing (SA 600) for public consultation, aiming to strengthen group audits in response to deficiencies highlighted in several corporate fraud cases.
The Institute of Chartered Accountants of India (ICAI) is in a standoff with the National Financial Reporting Authority (NFRA) over a proposed revamp of the auditing standard SA 600, which deals with the "Use of the Work of Another Auditor."
The National Financial Reporting Authority (NFRA) has barred Aravind Maiya, former partner at BSR & Co and current CEO of Embassy REIT, from practicing as an auditor for 10 years.
The Centre for Audit Quality proposes to bring out version 2.0 of the Audit Quality Maturity Model.
In a landmark decision, the Delhi High Court has reaffirmed the regulatory powers of the Institute of Chartered Accountants of India (ICAI) over affiliates of the Big Four firms operating in India.
ICAI has made a decisive move, passing an order against auditing powerhouse EY's three affiliates and a retired partner, alongside disciplinary action against S V Ghatalia & Associates, LLP, and its partner for "professional misconduct."
In a recent development, CCM Dhiraj Khandelwal has addressed the concerns on 'X' surrounding the NFRA order imposing a significant penalty on Audit Firm M/s Dhiraj & Dheeraj.
Audit Firm M/s Dhiraj & Dheeraj, along with CA Piyush Patni (EP) and CA Pawan Kumar Gupta (EQCR), have been found guilty of professional misconduct.
The National Financial Reporting Authority (NFRA) has taken decisive action against alleged misconduct, debarring two Chartered Accountants (CAs) for a period ranging between 5 to 10 years.
ICAI being the world's largest accounting body and regulator and developer of accountancy profession in India has always partnered in Nation Building and provided services for economic development of the country.
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