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Inviting Suggestions on the Consultation Paper on Statutory Audit and Auditing Standards for Micro, Small and Medium Companies (MSMCs)
Start Date :
Nov 12, 2021
Last Date :
Nov 30, 2021
23:45 PM IST (GMT +5.30 Hrs)
National Financial Reporting Authority (NFRA) was established by the Central Government in October 2018 under Section 132(1) of the Companies Act, 2013. An important function of ...
मेरे विचार में, छोटी, मझोली कंपनियों को, जिन्हें आडिट कराना अनिवार्य नहीं है, के लिए , एक एप बनाया जाए जहां विभिन्न टेम्पलेट के माध्यम से,Audit प्रक्रिया को अंजाम दिया जाए। ये templates ,Ai आधारित हों जिससे कि, ग़लत जानकारी या गलतियों को on-the-spot check करते हुए आगे बढ़ा जाए। इस एप से छोटे उद्योगों/कंपनियों को self assessment का मौका भी हर महीने (तीन महीने) में मिलेगा तो उनके काम में पारदर्शिता आएगी और उनके पैसे (CA fee आदि) भी बचेंगे। क्या ऐसा App already है ?
My point of view on statutorily audit and internal audit is just a formality. Non of the industries are taking it seriously. Because today’s environment of audit is only making a good relationship with the client so that client give more work in future. A strict action at both the side should be necessary for reducing relationship between them so that corruption decreases and audit performance shall be increased .
Hon'ble P.M sir,
In my opinion Statutory Audit and Internal Audit by Auditors/Chartered Accounts is very necessary to get information on their financial position for every MSMc/MSME companies.
so make provisions as Mandatory for their accounts by such Audits and all such accounts "Balance sheet"may be published in Local news papers for awareness of a common man on MSMc/MSME companies in every financial year to get upto date information.
It is my suggestion only.
digital india
digital audit
The regulatory framework does not allow settlement of disciplinary cases against auditors by levying a penalty without determination of misconduct. Determination of misconduct often gets challenged in courts and gets subjected to protracted litigation whereas settlement against a penalty could be quicker.
The Central Government may appoint a secretary and such other employees as it may consider necessary for the efficient performance of functions by the National Financial Reporting Authority under this Act and the terms and conditions of service of the secretary and employees shall be such as may be prescribed.
The National Financial Reporting Authority shall meet at such times and places and shall observe such rules of procedure in regard to the transaction of business at its meetings in such manner as may be prescribed.
जय हिन्द
The National Financial Reporting Authority (NFRA)
The National Financial Reporting Authority (NFRA) is a body constituted under the provisions of Section 132 of the Companies Act, 2013. The constitution of this authority is effective from 1st October 2018.
The Union Cabinet approved the proposal to set-up the National Financial Reporting Authority (NFRA), intended to serve as an Independent Regulator for auditing profession.
This is true will some major facts and ideas that economies of the world require statutory audit for small companies only in case of some minimum criteria where public interest are satisfied.