NFRA held that weak, undocumented communication between auditors and governance bodies violates auditing standards and governance duties, requiring structured two-way ...

NFRA issues circular to strengthen auditor-board communication, aiming to improve audit quality and redefine accountability ...

The case highlights how inadequate communication between auditors and those charged with governance violates auditing standards. The key takeaway is that timely, documented, and two-way communication ...

The National Financial Reporting Authority (NFRA) has flagged concerns with the audit firms for not maintaining and archiving the audit files which is in violation of the auditing norms. In a circular ...

SEBI has proposed a tighter framework for related party transactions (RPTs) carried out by companies. RPTs of material subsidiaries may require audit committee approval when transactions exceed 10 per ...

NFRA seeks to revise SA 600 to align it with ISA 600. SA 600, the Indian standard of auditing, must be reformed to match with the global standards for early detection of frauds and building trust of ...

The National Financial Reporting Authority (NFRA) has recommended a host of auditing standards for the limited liability partnerships (LLPs) on Monday that will make them more accountable and increase ...

Audit practice is governed by two regulatory frameworks. The first consists of domestic laws covering the appointment, ...