Audit Committees of corporate Boards cannot avoid culpability by blaming auditors: NFRA Chief
The Chairman of the National Financial Reporting Authority (NFRA), Ajay Bhushan Prasad Pandey, emphasised that a company's Audit Committee, primarily composed of Independent Directors, cannot shirk its responsibility for ensuring accurate financial statements, even if auditors fail in their duty.
Two auditors in Reliance Commercial Finance case are fined Rs 2.5 crore by NFRA
The National Financial Reporting Authority (NFRA) has imposed penalties totalling Rs 2.5 crore on two auditors for professional misconduct and auditing lapses related to the Reliance Commercial Finance case for FY 2018-19.
Audit Committee Meetings Should Not Be A Formality: NFRA Chairman
Ajay Bhushan Pandey, Chairman of the National Financial Reporting Authority (NFRA), highlighted the regulator's concern over instances where meetings between auditors and audit committees have become mere formalities, emphasising the need to rectify this practice.
NFRA to Implement Annual Audits, Aims to Strengthen Corporate Governance
The National Financial Reporting Authority (NFRA) is set to implement annual inspections of major audit firms, including the Big Four, to ensure compliance and deter deviations from established standards.
Chartered Accountant Fined Rs 50 lakh by NFRA
The National Financial Reporting Authority (NFRA) has imposed a Rs 50 lakh penalty on Chartered Accountant Pawan Jain, a partner at M/s Kumar Jain & Associates.
NFRA Is Joining IFIAR To Enhances Global Audit Oversight
In a noteworthy development, India's National Financial Reporting Authority (NFRA), an independent audit regulator, has officially joined the International Forum of Independent Audit Regulators (IFIAR), as reported on NFRA's LinkedIn page.
Adani Group Auditor Faces Scrutiny by NFRA in India
An auditor associated with the Adani Group is currently under investigation by India's accounting regulator, the National Financial Reporting Authority (NFRA).
NFRA penalises auditor for lapses in Sobha audit case
The National Financial Reporting Authority (NFRA) has imposed a penalty of Rs 5 lakh on Supreet Sachdev, an auditor who works at BSR & Co. LLP.
NFRA bats for effective, regular two-way communication between auditors and Boards
National Financial Reporting Authority (NFRA) along with other regulators is focusing more on improving "effective two-way communication" between the auditors and the audit committee of the board and independent directors of the company.
NFRA Chief Emphasises CFOs’ Role in Ensuring integrity of financial accounts
The head of the National Financial Reporting Authority (NFRA) has highlighted the crucial responsibility of Chief Financial Officers (CFOs) in guaranteeing the integrity of financial accounts and fostering effective collaboration with auditors.