Non-recognition of pastime legal responsibility on expectation of dangerous mortgage tag a breach of accounting norm: NFRA

Non-recognition of pastime legal responsibility on accrual foundation simply on expectation of a mortgage getting the tag of a non acting asset by means of the lender is a contravention of accounting norms by means of corporations, audit watchdog Nationwide Monetary Reporting Authority (NFRA) stated on Friday. NFRA stated in a remark that it has … Read more

Majority of auditors no longer submitting annual returns, says NFRA

NEW DELHI : Audit regulator Nationwide Monetary Reporting Authority (NFRA) mentioned on Thursday that 1,684 statutory auditors have no longer filed their obligatory annual returns for the 12 months 2019-20, portray a grim image of the audit occupation within the nation. The determine reported via NFRA signifies a big segment of the audit occupation underneath … Read more