The CA Institute on Friday referred to as upon the Nationwide Monetary Reporting Authority (NFRA) to “pause” the revision strategy of a key auditing normal (SA600 -Utilizing the Work of One other Auditor) that ruled conduct of Group audits within the nation. This pause to revision course of (being undertaken by NFRA) is important to … Read more
The Institute of Chartered Accountants of India (ICAI) is locked in a battle of wits with the Nationwide Monetary Reporting Authority (NFRA) over its intervention to overtake a key audit customary (SA600–‘Utilizing the Work of One other Auditor’). A particular central council assembly has been convened on September 17 by the CA Institute to debate … Read more
In a game-changing growth, the Company Affairs Ministry (MCA) has notified the much-awaited new accounting normal on ‘Insurance coverage Contracts’ (Ind AS 117), setting the stage for a serious overhaul of accounting practices within the insurance coverage business. The brand new Accounting Commonplace (Ind AS 117), which might be relevant from April 1, 2024, would … Read more
Alleging misconduct, the Nationwide Monetary Reporting Authority (NFRA) has debarred two Chartered Accountants (CAs) between 5-10 years. Additionally, these two CAs and one audit agency have been fined as much as ₹3 crore. Additionally learn:Hindujas get SEBI nod for Reliance Wealth possession The matter is said to a monetary transaction with Reliance Capital. “Imposition of … Read more