India's NFRA proposes revisions to auditing standard SA 600 for PIE group audits, emphasizing lead auditor accountability and investor protection.
The National Financial Reporting Authority (NFRA) of India has proposed revisions to auditing standard SA 600, addressing significant deficiencies in group audits of Public Interest Entities (PIEs). The updated standard aims to enhance investor protection and align with international norms, emphasizing the lead auditor's accountability. Concerns from the Institute of Chartered Accountants of India about potential market concentration have been noted. Stakeholder feedback is invited until October 30.
September 17, 2024
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