Government Aims to Improve Audit-Related Transparency asks Auditors to Reveal their Findings Separately
Auditors of companies supervised by the National Financial Reporting Authority (NFRA) will have to reveal their findings distinctly as government seeks to focus on audit-related concerns and transparency.
The government has decided to notify a new form where auditors will require to file key findings in respect of companies and any unfavourable remarks and observations including other details. The form has been designed along the lines mandated by the Public Company Accounting Oversight Board in the US.
This move came into action by judging the scam at IL&FS that unearthed massive shortcomings and questions over the audit quality and interference of management were raised.
All listed companies, unlisted public companies All listed companies, unlisted public companies wi...
