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    <title>Amendment of section 132.</title>
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    <description>The amendment requires the National Financial Reporting Authority to operate through prescribed divisions, each presided over by the Chairperson or an authorised full time Member, and establishes an executive body of the Chairperson and full time Members for efficient discharge of certain functions. It expands debarment powers to prohibit a member or firm from being appointed as auditor or internal auditor, from undertaking audits of companies, or from performing valuations, with debarment lasting at least six months and up to ten years as determined by the Authority.</description>
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      <description>The amendment requires the National Financial Reporting Authority to operate through prescribed divisions, each presided over by the Chairperson or an authorised full time Member, and establishes an executive body of the Chairperson and full time Members for efficient discharge of certain functions. It expands debarment powers to prohibit a member or firm from being appointed as auditor or internal auditor, from undertaking audits of companies, or from performing valuations, with debarment lasting at least six months and up to ten years as determined by the Authority.</description>
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