Statutory auditors to submit annual transparency report, says NFRA

Salaries of partners; audit, non-audit fees; details of network firms among information to be shared

The National Financial Reporting Authority (NFRA) has issued a draft format of the Annual Transparency Report (ATR) to be submitted by auditors and audit firms every financial year.

The gradual implementation of this filing will start with the statutory auditors of the top 1,000 listed companies by market capitalisation on March 31.

Audit firms will have to provide the details of their ownership and legal, governance and management structures.

The transparency reports will cover the details about the revenues of the statutory auditor and its network firm for the current and previous years.

This will include the statutory audit and