Please use this identifier to cite or link to this item: http://hdl.handle.net/11718/26556
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dc.contributor.authorRam Mohan, M P-
dc.contributor.authorRaj, Vishakha-
dc.date.accessioned2023-06-12T09:01:11Z-
dc.date.available2023-06-12T09:01:11Z-
dc.date.issued2023-06-05-
dc.identifier.citationRam Mohan, M P & Raj, Vishakha (2023). Disciplining orders under the national financial reporting authority framework: stepping into a strict liability regime. IIM Ahmedabad.en_US
dc.identifier.urihttp://hdl.handle.net/11718/26556-
dc.description.abstractThe National Financial Reporting Authority (NFRA) was established to fill a gap in the oversight of auditors by independent regulatory bodies. Prior to the establishment of the NFRA, only the Institute of Chartered Accountants of India (ICAI), a self-regulatory body could bar auditors from practicing in the event that they had engaged in professional misconduct. This regime began to change as auditors engaged with public firms, bringing the securities regulator into the mix as well. The decisions of ICAI and SEBI have not followed a consistent approach. A finding of misconduct is often accompanied by a finding of gross negligence and the latter does not have a uniform definition. The NFRA, being a nascent authority has only begun to issue orders against auditors over whom it has jurisdiction. Its orders are based on the same substantive law relating to professional misconduct of auditors as the ICAI, however, NFRA orders have shown more consistency in their approach and outcome. This paper examines the decisions of the NFRA from 2020 till December 2022 and posits that the consistency in its approach has been achieved by developing a no-fault regime for auditors.en_US
dc.language.isoen_USen_US
dc.publisherIndian Institute of Management Ahmedabaden_US
dc.subjectProfessional misconducten_US
dc.subjectAuditorsen_US
dc.subjectNational financial reporting authorityen_US
dc.subjectStrict liabilityen_US
dc.titleDisciplining orders under the national financial reporting authority framework: stepping into a strict liability regimeen_US
dc.typeWorking Paperen_US
Appears in Collections:Working Papers

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