AUDIT NEWS | NFRA finds deficiencies in Audit Quality of Big four firms | Neeraj Arora

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Audit News- NFRA finds deficiencies in Audit Quality of Big four firms

The National Financial Reporting Authority (NFRA) has found deficiencies in the audit processes of BSR & Co, Deloitte Haskins & Sells, SRBC & Co, and Price Waterhouse Chartered Accountants (PwC) in its inspection report 2022, released on Friday.
In its firm-wide review of audit control systems of BSR & Co, the NFRA found the firm’s claim to being independent of KPMG India entities was unacceptable.

The NFRA said BSR did not provide details of its leadership structure, KPMG Network entities, and non-audit services provided by those entities to audit clients of the firm during inspection.

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