Creative Bharat
New Delhi: To enhance the quality and the level of interactions between auditors and companies’ audit committees, NFRA chief Ajay Bhushan Prasad Pandey has said the watchdog plans to come out with six to seven papers having sets of questions that will cover various aspects of statutory audits. “The papers will also help the stakeholders […]
The National Financial Reporting Authority (NFRA), India’s independent audit regulator, has issued a new report, stressing on the need for stronger communication between auditors and audit committees regarding the audit of Expected Credit Loss (ECL) under Ind AS 109. This report is part of NFRA’s ongoing commitment to improving audit quality and ensuring transparency in […]
Pune: The health department has now written to all medical officers in the state to conduct inspections of private hospitals, to check for overcharging, gaps in fire safety and improper biomedical waste disposal. The department’s letter on Jan 4 — addressed to civil surgeons, district medical officers and medical heads of all civic bodies — […]
The National Financial Reporting Authority (NFRA), India’s independent audit regulator, has raised serious concerns over the audit practices at MSKA & Associates, one of India’s prominent audit firms, in its latest inspection report. The firm, a member of the BDO network since 2013, has been found lacking in several key areas, prompting MSKA to implement […]
The Institute of Chartered Accountants of India (ICAI) doesn’t have the power to issue standards on quality management (SQMs) for accountancy firms or introduce consequential changes to audit norms, solicitor general of India Tushar Mehta said in an opinion sought by the National Financial Reporting Authority (NFRA). The opinion bolsters the NFRA’s stance that the […]
Kolkata: The Engineering Export Promotion Council (EEPC) India on Sunday proposed the introduction of a “faceless” GST audit system to enhance ease of doing business in the country. The apex engineering exports promotion body’s proposal follows the successful implementation of the “faceless assessment” system by the income tax department. “The faceless GST audit system, by […]
The Engineering Export Promotion Council (EEPC), India on Sunday proposed the introduction of a “faceless” GST audit system to boost ease of doing business in the country. The apex engineering exports promotion body’s proposal comes following the successful implementation of ‘faceless assessment’ by the Income Tax department. “The faceless GST audit system, by using technology […]
NEW DELHI: A group of Akasa Air pilots continues to express discontent over alleged training concerns and seeking a thorough DGCA audit following the regulator’s decision to suspend two senior officials. Additionally, the pilots have informed the civil aviation ministry and DGCA about their plans to establish a pilots’ union.The Directorate General of Civil Aviation […]
The National Financial Reporting Authority (NFRA), India’s independent audit regulator, has released its firm-wide audit quality inspection reports for two leading audit firms—BSR & Co. LLP, a sub-licensee of the KPMG network, and M/s Lodha & Co. LLP. The inspections revealed serious deficiencies in audit practices, particularly in the areas of related party transactions, audit […]
On the International Day of Persons with Disabilities (IDPD), the National Awards for the Empowerment of Persons with Disabilities held at Vigyan Bhawan, New Delhi, saw the launch of a nationwide accessibility audit campaign. Launch of nationwide accessibility audit campaign, with the […]
