NFRA clears 40 audit rules in spite of ICAI objections
Tuesday, 12 November 2024
The National Financial Reporting Authority (NFRA) approved 40 audit standards, aligning several with global norms despite objections from the Institute of Chartered Accountants of India. This decision reinforces NFRA's authority over audit standard setting, potentially ending ICAI's attempts to reclaim lost powers.
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