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 ...

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

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 ...

The adjudicating authority held that failure to disclose related party transactions violated statutory audit duties. The key ...

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 ...

This report was prepared by the World Bank, on the basis of a diagnostic review carried out between April and November 2009, including three field missions. The report was prepared by a team led by ...

Bangladesh is witnessing a growing debate over who should be legally authorised to conduct audits. As someone qualified as both a chartered accountant (CA) and a cost and management accountant (CMA) ...

Effective January 1, 2010, the National Association of Insurance Commissioners (NAIC) adopted the Annual Financial Reporting Model Regulations (Model Audit Rule), which among other requirements, ...

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 ...

The Solicitor General of India has affirmed the rights of the National Financial Reporting Authority (NFRA) to issue Standards on Quality Management (SQMs) for auditing. The ICAI Act, 1949, does not ...