which NFRA considered illegal. The matter aligns with aligning domestic audit norms with global standards. The Institute of Chartered Accountants of India (ICAI) doesn’t have the power to issue ...

The Institute of Chartered Accountants of India (ICAI) cannot independently issue standards on quality management (SQMs) or amend audit norms, Tushar Mehta, the Solicitor General of India, told the ...

The penalty pertains to Deloitte's audit of ... the Engagement Quality Control Review (EQCR) Partner, faced a penalty of Rs 5 lakh and a three-year ban from auditing roles. NFRA clarified that ...

The audit regulator found that the Deloitte’s auditors failed to identify and report misrepresentation, and were “grossly negligent”. In a 30-page order, the NFRA said that prima facie ...

Jani was the Engagement Partner (EP), and Sharma was the Engagement Quality Control Review (EQCR) Partner for the audit of the company for 2018-19 and 2019- 20. In its probe, NFRA found Deloitte ...

Representative image NEW DELHI: The National Financial Reporting Authority (NFRA) has slapped penalties totalling Rs 8 lakh on two auditors and barred them for up to five years for professional ...

Separately, NFRA imposed a fine of Rs 5 lakh on Chetan Desai and Rs 3 lakh on Rakesh Rathi. Both were partners of the audit firm Haribhakti & Co LLP, which was the statutory auditor of DBRL for the ...

The National Financial Reporting Authority (NFRA) has reportedly imposed a Rs 2 crore penalty on Deloitte Haskins & Sells for audit lapses ... who was the Engagement Quality Control Review ...

Deloitte is under regulatory scanner for ignoring red flags in its audit of Zee Entertainment, with the National Financial Reporting Authority (NFRA ... all audit norms. Since the whole issue ...

The National Financial Reporting Authority (NFRA) has imposed a fine of Rs 2 crore on Deloitte Haskins & Sells as well as ...

The other bone of contention was the SQMs (standards on quality management ... as proposed by NFRA, will lead to the concentration of work in the hands of large audit firms.

Peer reviews help to improve the quality of financial statement audits and other attestation services. Assessing the root ...