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November 2024

From The President

By CA Anand Bathiya, President
Reading Time 6 mins

The third-most important challenge facing our profession: ‘Regulatory Considerations’

On 4th October, 2024, our Society had the pleasure of hosting Dr. Ajay Prasad Bhushan Pandey, Chairman of the National Financial Reporting Authority (‘NFRA’), along with other NFRA officials for an interactive session on the evolving assurance landscape. The discussion was particularly timely, following the NFRA circular issued on 3rd October, 2024, which provided interpretations of SA 600 regarding auditors' responsibilities for group entities.

The Chairman compellingly articulated the imperative for India to establish a world-class audit framework in light of the anticipated growth of the Indian economy as well as the role of Chartered Accountants and Indian firms towards this national cause. This was followed by a panel discussion featuring two past presidents of the ICAI and two seasoned audit partners, along with the Chairman. The insightful dialogue provided numerous takeaways, highlighting an evident shift in the regulatory landscape impacting our profession. Notably, the BCAS Membership Survey also identified 'Regulatory Considerations' as the third-most significant challenge facing our profession, followi

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