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'NFRA authorised to impose penalties on audit firms'
Updated : 8 years ago IST
New Delhi [India], Mar. 6 (ANI): The Centre on Tuesday stated that the National Financial Reporting Authority (NFRA), to be set up for overseeing auditing standards, will have the power to penalise audit firms for any malpractice identified.
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Cabinet approves establishment of committee to supervise auditors
Updated : 8 years ago IST
New Delhi [India], Mar. 2 (ANI): In a major move to implement stricter supervision of auditing firms and individuals, the Union Cabinet chaired by Prime Minister Narendra Modi approved the proposal for establishing the National Financial Reporting Authority (NFRA).
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Centre to crackdown on erring auditors
Updated : 8 years ago IST
New Delhi [India], Feb 22 (ANI): The government is considering implementing stringent auditing standards by notifying Section 132 of the Companies Act, 2013, in the wake of the 1.77 billion dollar Punjab National Bank (PNB) fraud.
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