Law Relating to NFRA/Audit & Auditors

This book is divided into two divisions:

• Law governing National Financial Reporting Authority (NFRA) under the Companies Act, 2013
• Law governing Audit & Auditors under the Companies Act, 2013

The Present Publication is the Latest Edition, incorporating all the amendments made up to the Companies Amendment) Act, 2019. The noteworthy features of the book are as follows:

• Analysis of the provision governing NFRA and audit under Companies Act, 2013
• Relevant sections of Companies Act, 2013
• Companies (Audit and Auditors) Rules, 2014
• NFRA(Manner of appointment and Other terms and conditions of service of chairperson and members) Rules, 2018
• Notifications issued under NFRA
• Companies (Auditor’s Report) Order, 2016

The contents of the book are as follows:

• Genesis & Architecture of National Financial Reporting Authority
• Functions, Duties & Powers of NFRA
• Classes of Companies or Bodies Corporate governed by NFRA
• Duties of Companies/Bodies Corporate governed by NFRA
• Auditors governed by NFRA
• Duties of Auditors governed by NFRA
• Monitoring and Enforcement of Compliance with Auditing Standards
• Oversight of Quality of Service of Auditors
• Powers of NFRA in relation to Professional or other Misconduct of Auditors governed by NFRA in terms of Rule 3
• Appeal by Auditor aggrieved by NFRA’s order on Professional or other Misconduct
• Audit
• Qualifications for Auditors
• Disqualifications of Auditors
• Appointment of Auditors of Government Companies
• Appointment of Auditors in case of Companies other than Government Companies
• Compulsory Rotation of Auditors
• Rotation of Audit Partners
• Reappointment of Retiring Auditors
• Remuneration of Auditors
• Joint Auditors
• Removal of Auditors
• Resignation of Auditor
• Powers and Duties of Auditors
• Reporting Frauds to Central Government
• Branch Audit
• Audit in case of Government Companies
• Auditor not to Render Certain Services
• Signing of Audit Reports
• Auditors to attend AGM