Statutory auditors may not get large companies’ non-audit operations
The government is looking to ban statutory auditors from taking up non-audit work on “public interest” companies — which means those that are listed or are above a certain threshold — and their subsidiaries.
Besides, it is exploring the possibility of joint audit for certain companies as part of the amendments to the Companies Act, for which a Bill is planned to be introduced during the Budget session of Parliament that reconvenes next month, sources told TOI.
Original Article Source Credits: The Times Of India , https://timesofindia.indiatimes.com/
Article Written By: Sidhartha
Original Article Posted on: Feb 21, 2022
Link to Original Article: https://timesofindia.indiatimes.com/business/india-business/statutory-auditors-may-not-get-large-companies-non-audit-operations/articleshow/89712943.cms