NFRA Circular on Highly Gross Negligence by Auditors - th-cam.com/video/stELG_qfCQc/w-d-xo.html
The National Financial Reporting Authority (NFRA) has passed orders against some auditors and audit firms for lapses in relation to some of these failures.
According to Pandey, there is a strong desire to have homegrown big accounting and auditing firms in India, and the pre-requisite is to have global standards on accounting and auditing in place.
"We cannot conveniently say what we are doing is the best... it will be a myopic view," he said.
Courtesy - Business Standard and CAclubIndia