NATIONAL FINANCIAL REPORTING AUTHORITY

Following days of heavy rainfall, a flood situation has emerged in Assam's Kaziranga National Park, inundating 167 camps. Park official DFO Arun Vignesh confirmed the rise in water levels and the evacuation of eight camps. The floods in Assam have c...

The Financial Action Task Force (FATF) has recognized India's achievements in combating money laundering and terrorism funding. The MER, adopted in Singapore, places India in the'regular follow-up' category, a distinction shared by only four other G...

The NHAI has established a DPR cell at its headquarters in New Delhi to meticulously review detailed project reports for national highway projects, aiming to ensure high construction standards, cost efficiency, and timely completion. This dedicated ...

The Kuwaiti government will give USD 15,000 each as compensation to the families of the victims of the devastating fire that killed 50 people, including 46 Indians, in the southern Ahmadi Governorate, according to a media report. The massive fire wh...

The National Financial Reporting Authority (NFRA) is set to conduct its first annual inspection of eight audit firms, including the Big Five, to reveal its findings by October or November. The inspection will focus on auditors' processes and standar...

NFRA chairman Ajay Bhushan Pandey emphasized the audit committee's responsibility in ensuring accurate financial statements, even if auditors fail in their duty. He highlighted the need for meaningful communication between audit committees and audit...

China is set to impose a record fine on PricewaterhouseCoopers LLP and may suspend some of its local operations due to its involvement in a major financial fraud case with China Evergrande Group. The Ministry of Finance is expected to announce the p...

After submitting a Canada student visa application, receiving approval is followed by obtaining a letter of introduction for entry, travel authorization, and presenting necessary documents at the border for a smooth entry.

The Department of Telecommunications (DoT), in collaboration with the Ministry of Home Affairs (MHA), has taken this decisive action to protect citizens from potential SMS fraud through the Sanchar Saathi initiative, the government said in a stateme...

The regulatory outreach could involve the NFRA's engagement with audit panels, independent directors, chief financial officers and others on the boards of these companies, said one of the persons. The regulator is close to finalising a framework to ...

According to Indian Cyber Crime Coordination Centre (I4C), on an average 7,000 cybercrime complaints were registered per day in May 2024, a jump of 113.7% between 2021-2023 and 60.9% from 2022-2023, and 85%of them were financial online frauds.

"RBI, as a regulator, will have to create that balance to ensure financial viability of road projects does not take a hit," an official said. The central bank earlier this month proposed tighter norms, requiring lenders to allocate 5% of the project...

The report by Huntr is based on quantitative surveys with qualitative interviews with 1,00,000 blue workers enrolled on the platform from May 2023-April 2024 compared to the corresponding period of the previous year. It further stated that the UAE's...

The National Financial Reporting Authority (NFRA) has penalized two auditors with fines totaling Rs 2.5 crore for professional misconduct and auditing lapses in the Reliance Commercial Finance case for FY2018-19. It imposed a Rs 2 crore fine on Shri...

On May 9, the Department of Telecommunications (DoT) had asked telcos to disconnect 28,220 mobile handsets and re-verify over two million mobile connections misused with these handsets.

Soon after a transaction by a scammer or the use of a mule account to purchase cryptos is tracked, the virtual digital assets (VDAs) can be moved to the proposed special account which would be under the control of a law enforcement agency (LEA).

The Union home ministry warns against cyber fraud by criminals posing as law enforcement agencies, leading to financial losses for victims. Fraudsters use various tactics, including 'digital arrests', and impersonate government bodies like CBI and R...

Corporate Affairs Ministry highlights the importance of cost audits in preventing manipulation by companies, such as misleading banks and evading taxes like GST. Compliance with the Companies Act, 2013 is crucial for monitoring cost records.

Top audit firms in India, including KPMG affiliate BSR & Affiliates and BDO affiliate MSKA & Associates, have stopped offering non-audit services to audit clients. This move aligns with the NFRA's strict stance on conflict-of-interest issues. EY aff...