Constituted in October 2018, the National Financial Reporting Authority (NFRA) has been making efforts to improve audit quality and has passed over 80 orders against various entities for auditing ...

Under this mandate, NFRA conducted audit quality inspections of the Chartered Accountant Firm M/s BSR & Co LLP in August 2024. The scope included a review of the remedial actions taken by the Firm for ...

“NFRA is not a passive body. It is an independent regulator to oversee the audit of public interest entities including listed companies. ICAI has to recognize that there is a government ...

The proposed norms are expected to include provisions for LLP auditors to ensure accountability, similar to the oversight the NFRA provides for auditors of public interest entities. Additionally ...

The crux of the issue is around a Rs 200 crore fixed deposit (FD) given by Zee as a guarantee to Yes Bank for loans to Essel Green Mobility, a group entity. NFRA found that neither the creation ...

The FD was prematurely closed and utilised by the bank in July 2019 to settle debts of seven promoter-linked entities of ZEEL without board or shareholder approval, NFRA said in its order.