India Launches Audit Inspections After Spate Of Scandals

India’s accounting watchdog on Friday published new audit quality inspection guidelines, as the country’s regulators continue to clamp down after a flood of scandals.

The National Financial Reporting Authority said that audit quality checks were “integral” to its work as an independent regulator. It will choose firms for inspection based on factors including their size and the risk of the work they do, it said, and it will publish any problems it finds.

• “The overall objective of inspections is to evaluate compliance of the audit firm/auditor with auditing standards and other regulatory and professional requirements, and the sufficiency and effectiveness ...