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English Release 29-July 2014
Date Month Year
  • President's Secretariat
  • PRESIDENT CONGRATULATES MEDAL WINNERS IN COMMONWEALTH GAMES

  • President of India’s greetings on Idu’l Fitr
  • Prime Minister's Office
  • CEO, Mitsubishi Corporation, calls on PM
  • PM addresses scientists at 86th ICAR Foundation Day
  • PM greets Vice President on Eid-ul-Fitr
  • PM greets people on Eid-ul-Fitr
  • Min of Agriculture
  • Prime Minister give Mantras of "Kam Zameen, Kam Samay, Zyaada Upaj","Per Drop, more Crop", and "Lab to Land"
  • Min of Urban Development
  • New urban development initiatives to address shortcomings of JNNURM
  • Min of Youth Affairs & Sports
  • Minister of Youth Affairs & Sports, Sarbananda Sonowal congratulates Indian medal winners on the 5th day in commonwealth Games 2014

Previous Date

 
Ministry of Corporate Affairs04-December, 2012 20:29 IST
Independent Regulator for Auditors

The Parliamentary Standing Committee on Finance which examined the Companies Bill, 2009 and the Companies Bill, 2011 had recommended that the National Advisory Committee on Accounting and Auditing Standards (NACAAS), proposed in the Companies Bill, 2009, be institutionalized not only as a body for setting up auditing standards but also as a quasi-regulatory body for generally supervising the quality of audit undertaken. Giving this information in written reply to a question in the Rajya Sabha, Shri Sachin Pilot, Minister of Corporate Affairs, said that keeping in view the recommendation, the provisions of clause 132 of the Companies Bill, 2011 provides for constitution of National Financial Reporting Authority (NFRA) to (i) make recommendations on the formulation and laying down of accounting and auditing policies and standards; (ii) monitor and enforce the compliance with such standards; (iii) oversee the quality of service of the relevant professions and suggest measures required thereto and (iv) take necessary action in certain cases against professional misconduct against chartered accountants.

Shri Pilot also informed the House that a report titled “Corporate Governance in India from Policies to Reality” brought out by Indian Institute of Corporate Affairs (IICA) recommends an independent regulator for auditors.

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