Reliance Commercial Finance Limited Audit Irregularities: NFRA Slaps ₹2.5 Cr Penalty on CA and CA Audit Firm
The National Financial Reporting Authority ( NFRA ) has slapped a monetary penalty of ₹2.5 Crore on a Chartered Accountants Firm and Chartered...
Professional Misconduct in Statutory Audit of Seya Industries Limited: NFRA Slaps Rs. 20 Lakh Penalty, debars CA and Firm for 10 Years
The National Financial Reporting Authority imposed a penalty of 20 Lakh Rupees on Chartered Accountant and debarred the CA firm for professional misconduct of Engaging Partner (EP) in statutory audit...
Peer Review Certificate Mandatory for Statutory Audit of Unlisted Public Companies and Attestation Services: ICAI
The Institute of Chartered Accountants of India (ICAI) has informed that the phase II of the mandate is becoming applicable from April 1, 2023 and the same shall be required to do statutory audit of...
Carry Forward of Business Loss cannot be denied merely for not getting Statutory Audit / Tax Audit done: ITAT [Read Order]
The Cochin bench of the Income Tax Appellate Tribunal (ITAT) has held that the carry forward of business loss cannot be denied to the assessee merely on the ground that the statutory audit/tax audit...
![Carry Forward of Business Loss cannot be denied merely for not getting Statutory Audit / Tax Audit done: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Carry-Forward-Business-Loss-denied-Statutory-Audit-Tax-Audit-ITAT-Taxscan.jpg "Carry Forward of Business Loss cannot be denied merely for not getting Statutory Audit / Tax Audit done: ITAT [Read Order]")
NFRA issues Consultation Paper on Statutory Audit and Auditing Standards MSMCs [Read Consultation Paper]
India is unique among the big economies of the world in statutorily mandating compulsory audits for all companies, irrespective of their size and characteristics. In view of the significant role...
![NFRA issues Consultation Paper on Statutory Audit and Auditing Standards MSMCs [Read Consultation Paper]](https://www.taxscan.in/wp-content/uploads/2021/09/NFRA-Consultation-Paper-Statutory-Audit-Auditing-Standards-MSMCs-Taxscan.jpg "NFRA issues Consultation Paper on Statutory Audit and Auditing Standards MSMCs [Read Consultation Paper]")
NFRA issues Audit Quality Review Report of Statutory Audit of IL&FS Transportation Networks Ltd (ITNL) for FY 2017-18 [Read Report]
The National Financial Reporting Authority (NFRA) has issued an Audit Quality Review (AQR) report of the statutory audit of IL&FS Transportation Networks Limited (ITNL) for the Financial Year...
![NFRA issues Audit Quality Review Report of Statutory Audit of IL&FS Transportation Networks Ltd (ITNL) for FY 2017-18 [Read Report]](https://www.taxscan.in/wp-content/uploads/2021/09/NFRA-Audit-Quality-Review-Report-of-Statutory-Audit-ILFS-Transportation-Networks-Limited-Taxscan.jpg "NFRA issues Audit Quality Review Report of Statutory Audit of IL&FS Transportation Networks Ltd (ITNL) for FY 2017-18 [Read Report]")