Audit News

ICAI Launches Online Panel for Bank Branch Audit Queries

02 April 2025 at 08:46

With the bank audit season approaching, the Auditing and Assurance Standards Board (AASB) of the Institute of Chartered Accountants of India (ICAI) has announced the launch of an Online Panel of Experts to assist members with bank branch audit-relate

Posted in Audit | 1287 Views

ICAI organised Statutory Central Auditors' Meet 2025-26

28 March 2025 at 08:42

The Institute of Chartered Accountants of India (ICAI), through its Professional Development Committee, successfully organized the Statutory Central Auditors' Meet 2025-26 on 24th March, 2025, in Mumbai.

Posted in Audit | 189 Views

Supreme Court Allows NFRA to Continue Proceedings Against CAs, but Restricts Final Orders

25 March 2025 at 08:32

In a crucial development impacting India's audit and accounting sector, the SC has permitted the NFRA to proceed with disciplinary cases against CAs and audit firms even where no AQRRs have been prepared and final orders are yet to be passed.

Posted in Audit | 2796 Views

ICAI Releases Guidance Note on Audit of Banks - 2025 Edition

19 February 2025 at 08:36

The Auditing and Assurance Standards Board (AASB) of the Institute of Chartered Accountants of India (ICAI) has released the Guidance Note on Audit of Banks (2025 Edition). This annual publication serves as a comprehensive resource for auditors condu

Posted in Audit | 1278 Views

Parliamentary Panel Questions MCA on NFRA's Performance, Budget Utilisation & Audit Oversight

18 February 2025 at 08:53

The Standing Committee on Finance, chaired by BJP MP Bhartruhari Mahtab, has sought detailed written responses from the Ministry of Corporate Affairs (MCA) regarding the functioning of the National Financial Reporting Authority (NFRA)

Posted in Audit | 477 Views

ICAI Introduces Revised Merger and Demerger Guidelines 2024 for CA Firms

12 February 2025 at 07:14

The Institute of Chartered Accountants of India (ICAI) has introduced the ICAI (Merger and Demerger of CA Firms) Guidelines, 2024, aimed at streamlining the process of firm mergers and demergers.

Posted in Audit | 1689 Views

Draft Bank Branch Auditors' Panel (MEF) for 2024-25 Now Live

31 January 2025 at 09:15

The Professional Development Committee of the Institute of Chartered Accountants of India (ICAI) is pleased to announce that the Draft Bank Branch Auditors' Panel (MEF) for the year 2024-25 has been published on the official ICAI website.

Posted in Audit | 780 Views

ICAI Releases Exposure Draft of Guidance Note on Audit of Banks (2025 Edition)

25 January 2025 at 08:56

The Auditing and Assurance Standards Board (AASB) of the Institute of Chartered Accountants of India (ICAI) has released the Exposure Draft of the Guidance Note on Audit of Banks (2025 Edition) for public comments.

Posted in Audit | 801 Views

CA Claims to be Whistleblower in Torres Jewellery Fraud, Seeks Police Protection

13 January 2025 at 09:28

Days after Mumbai police initiated an investigation into the alleged multi-crore Torres Jewellery fraud case, Abhishek Gupta, a 31-year-old chartered accountant, has approached the Bombay High Court seeking police protection.

Posted in Audit | 4425 Views

Chartered Accountants to Report FCRA Breaches in NGO Audits: MHA Directive

07 January 2025 at 08:49

The Foreigner's Division of the MHA has introduced new regulations requiring Chartered Accountants (CAs) to include specific declarations regarding compliance with the Foreign Contribution (Regulation) Act, 2010 (FCRA) when filing audit returns for NGOs.

Posted in Audit | 2901 Views