ACCOUNTANT AUDITOR

The National Financial Reporting Authority (NFRA) recommended 40 auditing standards for limited liability partnerships (LLPs) to the corporate affairs ministry. These standards, finalized in November for companies, will apply to LLPs from April 2026...

In his solemn vow, he said, "I am Kundu Sanjay Murthy, who has been appointed as the Comptroller Auditor General of India, who has been appointed as the Comptroller and Examiner General of India, I take an oath to God. I swear by God to the Constitu...

??With the increasing use of AI and emerging technologies to provide services, he said there are numerous risks, ranging from privacy breaches and algorithmic biases to social exclusion.

The National Financial Reporting Authority (NFRA) proposes aligning Indian audit standards with global norms by April 2026. The chairman emphasized this as a major reform for corporate governance and attracting investors, ensuring a transparent fina...

The National Financial Reporting Authority (NFRA) and the Institute of Chartered Accountants of India (ICAI) are headed for another clash. The upcoming NFRA board meeting will address revisions to auditing standards, including the controversial SA60...

About 475 damaged ballots have been retrieved from a burned ballot box in Vancouver, Washington. Authorities are investigating the incident along with other related fires as an attack on democracy. Investigators have found links between the fires in...

Approximately 475 damaged ballots were retrieved from a burned ballot box in Vancouver, Washington. Incendiary devices also damaged three ballots in Portland, Oregon. Authorities are investigating the fires, deemed as attacks on democracy, and have ...

ICAI released new Standard of Quality Management for CAs and audit firms, bypassing NFRA's mandated process. This move has sparked a controversy as NFRA argues for unified quality standards. INR, Sebi, and CAG representatives support NFRA's stance. ...

The circular asks auditors to follow both the Standard on Auditing (SA) 600 and the Companies Act 2013 in letter and spirit, on top of other relevant norms, and act accordingly.

CAG Girish Chandra Murmu emphasizes the importance of bolstering local bodies for India's development by 2047, urging enhancements in rural governance and resources. Speaking at ICAI's conclave, he highlights collaboration with the CAG to improve mu...

India's Comptroller and Auditor General (CAG) has taken over as chair of the Asian Organization of Supreme Audit Institutions (ASOSAI) for 2024-27. The 16th ASOSAI assembly in Delhi focused on enhancing cooperation among regional audit bodies, with ...

ICAI has requested NFRA to pause proposed changes to auditing standard SA 600 for group audits, citing concerns over the impact on small and medium CA firms. ICAI seeks more time for comprehensive review and stakeholder discussions, emphasizing the ...

BA (Honours) Economics remains in high demand due to its comprehensive curriculum covering various economic aspects. Graduates can pursue roles such as economic consultant, investment analyst, actuarial analyst, auditor, and economic writer. These p...

Audit firm MSKA & Associates has resigned as Byju's statutory auditor, citing uncooperative management and suspicious transactions involving a Dubai-based reseller. This resignation affects the audit for FY23 accounts and follows Deloitte Haskins & ...

The central council of ICAI will discuss NFRA's proposed changes to auditing standard SA 600 on September 17. ICAI is concerned these changes may concentrate audit work with a few large firms, affecting small and medium auditors. The outcome could i...

The National Financial Reporting Authority and the Institute of Chartered Accountants of India are at odds over proposed changes to domestic audit standards. ICAI fears the changes could concentrate audit work among large firms, impacting smaller pr...

From next month, companies will be encouraged to allow banks and auditors to upload information on funds and borrowings to a new online platform by the National e-Governance Services. This change is poised to reduce risks of number tampering and inc...

Banking Laws Amendment Bill: Finance Minister Nirmala Sitharaman introduced new Bills in the Lok Sabha on Friday, including the Banking Laws (Amendment) Bill, 2024. The Bill aims to amend the Reserve Bank of India Act, the Banking Regulation Act, an...

RBI emphasizes the importance of CFOs guarding against fraudulent transactions and misuse of internal accounts. Auditors advised to enhance cybersecurity measures and scrutinize business decisions. Future audit expectations include addressing climat...