NFRA, ICAI can resolve differences over auditing practice, says official

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NFRA, ICAI can resolve differences over auditing practice, says official - Business Standard

Quick Summary:

The senior official said that ICAI is not opposed to implementing the revised ISA 600 but is trying to figure out the path to do so.

The idea behind upgrading the Standards on Auditing 600 (SA 600), currently followed by Indian auditors, to the revised ISA 600 is to plug current gaps that have led to major audit lapses in the recent past.

According to sources, NFRA is expected to invite public comments on the revised ISA 600 adoption by publicly listed companies and non-public sector banks.