Acting on a petition Indian audit firms sent to prime minister Narendra Modi recently the corporate affairs ministry has constituted an expert group to delve into the issues related to the operations of audit firms In the country,
The elected expert group members former competition commission of India. (RBI) deputy governor NS Vishwanathan will study the operating structures of multinational audit firms implementation of audit rotation and use of restrictive covenants by global investors. They have two months to engage with relevant stakeholders and make suitable recommendations to the government. It’s a positive order for auditing firms in india.