National Financial Reporting Authority Nfra
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
 "Statutory auditors to submit annual transparency report, says NFRA")
Will look into financial disclosures of Byju's, says ICAI president
Move comes in backdrop of Congress MP Karti Chidambaram's letter airing concerns over results
 "Will look into financial disclosures of Byju's, says ICAI president")
NFRA aligning to global standards but industry awaits more clarity
Experts want the authority to set some limit on the time it would spend on on-site visits
 "NFRA aligning to global standards but industry awaits more clarity")
NFRA issues inspection guidelines to improve quality control at audit firms
Inspections will consist of firm-wide review of audit quality and individual file reviews on test-check basis to evaluate the level of compliance with applicable auditing standards
NFRA warns auditors against non-accrual of interest on NPA borrowings
Mere classification of a firm's loans as NPAs by lender banks does not relieve the borrower from its liability towards payment of interest or the principal, the authority says
 "NFRA warns auditors against non-accrual of interest on NPA borrowings")
NFRA asks ICAI to reconsider structure of its accounting standards proposal
Standards are for firms that are not required to follow Indian Accounting Standards. Most of these would be private, with very small net worth or turnover or indebtedness, according to NFRA
NFRA finds deficiencies in BSR's audit of IL&FS Financial Services
The audit review report has found violations with respect to the assessment of the use of the going concern assumption by the management
National Financial Reporting Authority to hire legal, finance experts
The independent watchdog for auditing profession has sought applications for 10 posts of consultants and senior consultants on one-year contract basis
 "National Financial Reporting Authority to hire legal, finance experts")
After long wait, National Financial Reporting Authority gets own address
After camping in make-shift offices, it shifted to a upmarket central Delhi building just a few months ago that was previously the office of the Competition Commission of India
 "After long wait, National Financial Reporting Authority gets own address")
Watchdog for accountants
Independent and robust regulation of auditors a must
