'Principal auditor is responsible for a/cs'

NFRA clarified that principal auditors are accountable for consolidated financial statements in group audits, highlighting past failures involving IL&FS and Reliance Capital. Emphasizing mandatory adherence to auditing standards, NFRA dismissed claims that standard provisions were optional and confirmed auditors' rights to review subsidiary records.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/MGtOy5i