Responsibilities of Principal Auditor and Other Auditors in Group Audits: NFRA issues Circular [Read Circular]
In group audits, where companies have subsidiaries, branches, and associates, the Principal Auditor is ultimately responsible for the audit opinion on the entire group
By Manu Sharma - On October 4, 2024 4:57 pm - 2 mins read
The National Financial Reporting Authority ( NFRA ) has issued a circular clarifying the responsibilities of Principal Auditors and Other Auditors in group audits, highlighting their roles in safeguarding public interest. This circular, dated October 3, 2024, addresses recurring issues of audit failures and emphasises strict adherence to the Standards on Auditing (SAs) and the…
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