NFRA to have power to impose penalty on audit firms

Last updated: 07 March 2018

The Chartered Accountants Act, 1949 (Act) provides for imposition of penalties on members of the Institute of Charted Accountants of India (ICAI). The ICAI had submitted a proposal to the Government for amendment to the Act to, inter alia, provide for registration of audit firms, procedure for taking necessary disciplinary action against audit firms (on the lines of such procedure for individual members) and imposition of penalties on audit firms. Section 132 of the Companies Act, 2013 provid
Daily Limit Reached

You have reached your daily limit of 2 Free News

Subscribe to CCI PRO for unlimited access

Why Upgrade to CCI PRO?
  • No Ads
  • WhatsApp Community
  • Daily E-Newsletter
  • Unlimited News Access
  • Profile Visitors
  • Link Social Profiles
  • Featured Job Posts
  • Pro Badge
  • Expert GST Guidance
  • Unlimited Forum Replies
  • Download Content in PDF
1 Year PLAN
1999
(Excl. of GST ₹359)

BEST VALUE
2 Years PLAN
3499
(Excl. of GST ₹629)

View all CCI PRO benefits

Already a PRO member? Login here for an ad-free experience. 011-411-70713



Guest

News posted by

Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

Comments :

Recent News :

  1. 57th GST Council Meeting: GST Arrest Powers to Go, Prosecution Limit Raised to Rs 5 Crore
  2. RBI Clarifies FEMA Reporting: No Reporting Required for Personal Transactions
  3. GST Reforms 2026: Easier Registration, Faceless Assessment and New Compliance Rules
  4. Special Deposit Scheme Interest Rate Fixed at 7.1% for Oct-Dec 2026
  5. New FEMA Rule From October 2026: Freelancers and Service Exporters Must File EDF
  6. ICAI E-Way Bill Handbook 2026: Check GST Applicability, Exemptions and Validity Rules
  7. ICAI Suggests Major GST Registration and Refund Reforms to Ease Taxpayer Compliance
  8. Next-Gen GST Reforms to Simplify Compliance and Boost Business Growth: FM Sitharaman
  9. UPI Charges From 15th Oct 2026: 0.4% MDR on Payments Above Rs 2000
  10. ICAI Awards 2026: Nominations Open for 20th ICAI Awards, Apply by 15th December

More »


Popular News




Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Pro Member SohanSohanPro Member Tia BlairTia BlairPro Member Prakash KaduluriPrakash KaduluriPro Member Dinesh kumarDinesh kumarPro Member saurabh sawlanisaurabh sawlani
Subscribe to Pro
Join an elite circle of professionals


Browse by Category



Latest Job Openings

View all
Company
16 September 2026
Internal Audit - Team Lead

Consulting & Beyond

Chennai

CA

View Details
Company
08 October 2026
Account Executive

Elite Taxation

New Delhi

CA Foundation

View Details
Company
08 October 2026
Accounts and Tax Associate

POOJA R TELI & CO

Pune

CA Inter

View Details
Company
ARTICLESHIP 07 October 2026
Article Trainee/ CMA Trainee

RMA And Associates LLP

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 07 October 2026
Article assistant

S.K.Bajpai & Co.

Noida

B.Com

View Details
Company
ARTICLESHIP 15 September 2026
Freelance Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 16 September 2026
Article Assistant

MANUJ SHARMA AND COMPANY

Noida

CA Inter

View Details
Company
26 September 2026
Chartered Accountant

pushpganga ventures

Pune

CA

View Details