ICAI and NFRA Divided Over Group Audit Rules

Two important groups in India, ICAI and NFRA, have different ideas about how to check the accounts of big companies.

ICAI has made new rules to make sure the main account checker and the account checkers of smaller companies within the group are more responsible.

But NFRA thinks these rules are not strict enough and has made even tougher rules.

NFRA has sent their rules to the government for approval.

It's like two teachers having different ways of grading homework, and they can't agree on which way is best.