FAQs on National Financial Reporting Authority (NFRA) Rules, 2018

2 replies
    • Shaifali Sharma
      Shaifali Sharma says:


      The term “auditor” is defined under Rule 2(1)(d) of the NFRA Rules as “individual or a firm including a limited liability partnership incorporated under the Limited Liability Partnership Act, 2008 (6 of 2009) or any other Act for 12 the time being in force, who has been appointed as an auditor of a company or a body corporate under section 139 of the Act or under any other Act for the time being in force.”

      Therefore, an auditor has to be a person who has been appointed as such under the Companies Act, 2013 only. The branch auditors of banks are not covered under this provision and therefore is not required to file Form NFRA-2.


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