Role of NFRA vs. ICAI | Role of Statutory Auditors of a Company V/s Statutory Auditors of Branches of the company | Standards of Auditing (SA) mandatory or Advisory | Key aspects of the Standard on Auditing (SAs) | What is professional misconduct for member of ICAI – Mr. Harish Kumar T.K v. National Financial Reporting Authority (NFRA) – NCLAT New Delhi

/ 185 minutes of reading

This judgment covers:
A. Role of NFRA vs. ICAI on disciplinary matters of Chartered Accountant
B. Retrospective or prospective applicability of provisions as contained in Section 132 of Companies Act, 2013 as well as NFRA Rules, 2018
C. Violation of Principle of natural justice V/s separate division of NFRA
D. Role of Statutory Auditors of the Company V/s Statutory Auditors of the Branches of the company
E. Are Standards of Auditing (SA) mandatory or Advisory or to be treated as guidance notes to Auditors
F. What is professional misconduct for member of ICAI and legal provisions
G. True intent of Standard of Audits and other related standards relevant for audit and issue regarding alleged violation by the Appellants herein
G.1 Legal status and details of Standards of Auditing and other related Standards in India
G.2 Key aspects of the Standard on Auditing

Role of NFRA vs. ICAI | Role of Statutory Auditors of a Company V/s Statutory Auditors of Branches of the company | Standards of Auditing (SA) mandatory or Advisory | Key aspects of the Standard on Auditing (SAs) | What is professional misconduct for member of ICAI – Mr. Harish Kumar T.K v. National Financial Reporting Authority (NFRA) – NCLAT New Delhi Read Post »