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Big Four network: Big Four network and others under scrutiny over audit services

The National Financial Reporting Authority (NFRA) is investigating audit and non-audit services provided by the Big Four and other firms to clients. NFRA has raised concerns about conflict of interest and independence issues, leading to disciplinary actions. Violations include exceeding the revenue limit for non-audit services and breaching the cap on revenue from a single client.

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NFRA finds certain lapses in audit quality of Walker Chandiok & Co

NFRA finds certain lapses in audit quality of Walker Chandiok & Co
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GT audit lapses: NFRA flags audit lapses by Walker Chandiok, releases inspection report

The National Financial Reporting Authority (NFRA) has issued an inspection report on audit firm Walker Chandiok & Co LLP (WCCL), highlighting lapses such as the lack of integration between electronic and paper files and the provision of non-audit services prohibited under the Companies Act, 2013. The report also highlighted the existence of related entities of WCCL, Grant Thornton Bharat LLP (GTBL), Grant Thornton Advisory Private Ltd (GTAPL) which are part of a large global "GTIL Network" as per the standard on Quality Control (SQC) 1.

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NFRA flags documentation gaps in some Big Four firms

India Business News: NFRA released the first inspection reports of Big Four audit firms, pointing to gaps in audit work, violations of the Companies Act, and inadequate au

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NFRA finds certain lapses in audit quality of network entities of Big 4

NFRA finds certain lapses in audit quality of network entities of Big 4
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