Adani Enterp. 1919.85↓-5.10(-0.26%)
Adani Ports 681.50↑0.20(0.03%)
Apollo Hospitals 4490.80↓-22.90(-0.51%)
Asian Paints 2899.55↓-2.80(-0.10%)
Axis Bank 870.65↑10.65(1.24%)
B P C L 361.10↑3.50(0.98%)
Bajaj Auto 4498.00↑66.05(1.49%)
Bajaj Finance 6249.15↓-30.95(-0.49%)
Bajaj Finserv 1349.05↓-5.60(-0.41%)
Bharti Airtel 790.20↓-9.10(-1.14%)
Britannia Inds. 4511.05↓-42.50(-0.93%)
Cipla 917.70↑9.65(1.06%)
Coal India 236.10↑3.00(1.29%)
Divi's Lab. 3253.70↓-14.20(-0.43%)
Dr Reddy's Labs 4950.40↑20.55(0.42%)
Eicher Motors 3356.15↑55.05(1.67%)
Grasim Inds 1739.55↑19.25(1.12%)
H D F C 2790.00↑14.40(0.52%)
HCL Technologies 1067.55↑3.45(0.32%)
HDFC Bank 1687.25↓-0.35(-0.02%)
HDFC Life Insur. 544.50↑14.75(2.78%)
Hero Motocorp 2495.90↓-62.70(-2.45%)
Hind. Unilever 2451.70↓-5.60(-0.23%)
Hindalco Inds. 446.15↑10.05(2.30%)
ICICI Bank 922.10↑4.45(0.48%)
IndusInd Bank 1150.90↓-1.90(-0.16%)
Infosys 1277.45↑24.70(1.97%)
ITC 424.45↓-1.10(-0.26%)
JSW Steel 737.90↑12.60(1.74%)
Kotak Mah. Bank 1921.15↓-16.90(-0.87%)
Larsen & Toubro 2384.45↑20.05(0.85%)
M & M 1237.30↑10.40(0.85%)
Maruti Suzuki 8776.85↑187.30(2.18%)
Nestle India 21745.85↓-15.55(-0.07%)
NTPC 175.60↑3.60(2.09%)
O N G C 164.25↑5.30(3.33%)
Power Grid Corpn 240.10↑2.85(1.20%)
Reliance Industr 2441.05↑20.55(0.85%)
SBI Life Insuran 1150.90↑10.80(0.95%)
St Bk of India 575.30↓-3.00(-0.52%)
Sun Pharma.Inds. 973.05↓-14.60(-1.48%)
Tata Consumer 779.60↑15.75(2.06%)
Tata Motors 480.25↓-4.70(-0.97%)
Tata Steel 110.30↑2.35(2.18%)
TCS 3219.40↓0.15(0.00%)
Tech Mahindra 1053.45↑29.75(2.91%)
Titan Company 2663.85↑22.00(0.83%)
UltraTech Cem. 7456.60↓-99.60(-1.32%)
UPL 752.50↑12.20(1.65%)
Wipro 388.35↑3.35(0.87%)

Audit trail: 5 years of NFRA cracking the whip

The regulator has pulled up erring chartered accountants and firms, but is its work having an impact?

The company founded by Sundeep Mohindru has raised Series-A funding from Mayfield India and SIDBI Ventures

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9 min read Last Updated : May 02 2023 | 4:27 PM IST

In the five years since the National Financial Regulatory Authority (NFRA) was established in 2018, it has ticked off many company auditors, made some of them resign and pushed for reforms. What it has been unable to do is catch the imagination of company board rooms.

The Institute of Chartered Accountants of India (ICAI) is more visible in those circles, despite its perceived lack of zeal to censure chartered accountants for errors. NFRA has passed 22 penal orders on auditors in about 30 months.

“Our role and responsibilities are very distinct which is for standard-setting, investigation and disciplinary matters (on auditors) of listed entities,” says Ajay Bhushan Pandey, NFRA’s chairman. “Just last week, several auditors of large companies had to resign as a consequence of our debarment orders".