Under Section 144 of the Companies Act, 2013, an auditor’s role is kept independent so that financial reporting remains trustworthy. In this guide, we will understand what services an auditor is not allowed to provide, why this rule exists, and what it means in real business situations in India.Why There Are Restrictions on AuditorsLet me start with a common real-life … [Read more...] about Services an Auditor Cannot Provide to a Company: Section 144 of Companies Act Explained
Auditor Remuneration Under Companies Act 2013 Explained Simply (Section 142 Guide)
When a company appoints an auditor, one practical question always comes up — who decides how much the auditor gets paid?Section 142 of the Companies Act, 2013 answers this in a very structured but practical way. It explains how auditor fees are fixed and what payments are considered part of that fee. If you are new to company law, understanding auditor remuneration helps … [Read more...] about Auditor Remuneration Under Companies Act 2013 Explained Simply (Section 142 Guide)
Who Is an Auditor? Simple Guide to Audits and Types of Auditors in India
An auditor checks whether a company’s financial records are correct and honestly prepared.In this beginner-friendly guide, you will understand what an auditor is, what auditors actually do, and the different types of auditors you may hear about in India.Let’s start with a small real-life situation.Suppose a business owner tells banks and investors that the company … [Read more...] about Who Is an Auditor? Simple Guide to Audits and Types of Auditors in India
Company Auditor Under Companies Act: Duties, Rules & Compliance
When a company appoints an auditor in India, many legal rules quietly start working in the background. For a practicing Chartered Accountant, understanding these rules is not just about compliance — it helps avoid unnecessary disputes, penalties, and professional risks. Many beginners assume audit appointment is a simple formality, but in practice, small procedural … [Read more...] about Company Auditor Under Companies Act: Duties, Rules & Compliance
National Financial Reporting Authority (NFRA) Explained: Meaning, Role & Powers
Imagine you are reading a company’s financial report before investing your money. You trust the numbers because an auditor has checked them. But then a simple question arises — who checks whether the auditor did their job properly?This is where the National Financial Reporting Authority (NFRA) comes in.NFRA is India’s independent watchdog for accounting and auditing … [Read more...] about National Financial Reporting Authority (NFRA) Explained: Meaning, Role & Powers