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Govt Appoints Committee to Revisit Criteria for EWS Quota; Ex-Finance Secy Ajay Pandey to Head Panel : Education News

The centre has formed a three-member committee to review the criteria for reservation for the Economically Weaker Sections (EWS) category, the Ministry of Social Justice and Empowerment announced on Tuesday. The government had informed the Supreme Court last week that it has taken a considered decision to revisit the criteria.The committee members are former finance

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Audit fees growth lags corporate expansion in India

While the audit fee hike is marginal, the sharply increasing complexity in business operations, heightened regulatory oversight on listed companies, growing complexity in reporting requirements, and escalating talent and organisation costs every year are putting auditors in a tough spot.

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Top auditors stop offering non-audit work, Real Estate News, ET RealEstate

Top audit firms in India, including KPMG affiliate BSR & Affiliates and BDO affiliate MSKA & Associates, have stopped offering non-audit services to audit clients.

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audit firms: Top auditors stop offering non-audit work to clients

Top audit firms in India, including KPMG affiliate BSR & Affiliates and BDO affiliate MSKA & Associates, have stopped offering non-audit services to audit clients. This move aligns with the NFRA's strict stance on conflict-of-interest issues. EY affiliate SR Batliboi & Co is the only top firm still providing such services. This change comes amid global pressure for auditors to maintain independence and avoid conflicts of interest. The NFRA's regulations apply to Indian companies meeting certain thresholds.

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NFRA to inspect Big 4, others in 2024 too

NFRA to inspect Big 4, others in 2024 too
financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.

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Health check for healers: The big audit firms are under the NFRA lens

In recent times, more and more audit firms have challenged company managements, some going to the extent of resigning on the ground of incompatibility with what the management wanted or was doing.

This, said Ajay Bhushan Pandey, chairman of the National Financial Regulatory Authority (NFRA), in a media interview, was a good sign.

Now, the national accounting watchdog has turned the spotlight on audit firms themselves.

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"Auditors must be free, display professional scepticism" - Industry News

"Auditors must be free, display professional scepticism" - Industry News
financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.

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More action against pre-2018 audit violations likely: NFRA

More action against pre-2018 audit violations likely: NFRA
financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.

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MAN Industries Audit: NFRA Bans CA Nilesh Chheda for 5 Years, Slaps Rs5 Lakh Penalty for Professional Misconduct

Holding chartered accountant (CA) Nilesh Chheda responsible for professional misconduct as engagement partner (EP) for the fiscal year (FY)16-17 statutory audit (SA) of MAN Industries (India) Ltd (MIIL), the National Financial Reporting Authority (NFRA) has banned the CA for five years from being appointed as an auditor or internal auditor or from undertaking any audit and imposed a penalty of Rs5 lakh.

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Auditing the auditors: When it comes to reporting corporate fraud where does the buck actually stop?

Are auditors the only ones responsible for reporting corporate fraud? While regulators expect them to take a more active role and more measures are in the offing, where does the buck stop? - Issue Date: Nov 26, 2023

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