Rapid Fire
National Financial Reporting Authority
- 01 Jul 2024
- 1 min read
Recently, the National Financial Reporting Authority (NFRA) has started inspection of the audit arms of Big-5 firms.
- Big-5 firms include BSR & Co, Deloitte Haskins & Sells, SRBC & Co, Price Waterhouse Chartered Accountants and Walker Chandiok & Co.
- The "audit arms" are responsible for conducting audits of the company's financial statements.
- Its early reports suggest that most of these firms have already taken steps to segregate their audit and non-audit services.
- The report highlighted the need for areas of weaknesses to be treated as potential areas for improvement.
- National Financial Reporting Authority (NFRA):
Read more: National Financial Reporting Authority