Definitions in NFRA Rules define key terms such as auditor, Authority, accounting and auditing standards. Rule 2 provides definitions for the National Financial Reporting Authority Rules, 2018: it defines accounting standards and auditing standards by ... Summary
Definitions in NFRA Rules define key terms such as auditor, Authority, accounting and auditing standards.
Rule 2 provides definitions for the National Financial Reporting Authority Rules, 2018: it defines accounting standards and auditing standards by reference to the Companies Act; defines auditor to include individuals and firms (including LLPs) appointed under section 139 or other enactments; and defines Authority, chairperson, Division (including one headed by the chairperson or a full-time member), Form, full-time member and part-time member. It further states that terms not defined in the Rules take the meanings assigned to them in the Act.
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