NFRA finds certain lapses in audit quality of Walker Chandiok & Co
PrintListen to this Article
The regulator initiated an audit quality inspection of Walker Chandiok & Co LLP in December last year and covered various aspects, including a review of firm-wide quality controls to evaluate their adherence to Standards on Quality Control (SQC-1) and review of selected audit documentation of the annual statutory audit of financial statements for the year ended March 31, 2021, as per the order.
The regulator has flagged several deficiencies, where the audit firm failed to adhere to some of the prescribed 'client acceptance and continuance' prerequisites, including verifying the client's integrity and recording the resolution of concerns.
CLICK HERE FOR DETAIL REPORT
Category : NFRA | Comments : 0 | Hits : 681
The National Financial Reporting Authority (NFRA), in collaboration with India AI, has introduced an artificial intelligence–based challenge aimed at strengthening the quality of financial repor...
NEW DELHI (Jan 1): In a move to strengthen audit quality nationwide, the National Financial Reporting Authority (NFRA) has released its second Audit Practice Toolkit, designed to support small and med...
NFRA Imposes Monetary penalty of Rs 1 Crore on M/s Dhiraj & Dheeraj, Chartered Accountants, Mumbai (Firm of Active Central Council Member of ICAI) & Rs 50 Lakhs and 10 Lakh on CA Piyush Patni ...
Comments