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Regulator Flags Audit Deficiencies at PwC, KPMG, EY and BDO Affiliates
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Subscribe23 MAR 2026 / ACCOUNTING & TAXES
India's audit ecosystem, including PwC, EY, KPMG, and BDO-linked firms, has been revealed to have repeat instances of lack of independence, poor documentation, and risk evaluation, according to the latest inspection reports from the National Financial Reporting Authority (NFRA). The report highlighted weak audit documentation, incomplete evaluations of related-party transactions, and gaps in testing key areas, all of which is causing alarm in the auditing industry and prompting them to tighten controls and improve internal systems.
Audit quality is like oxygen in financial markets. Nobody talks about it when it’s there. Everyone panics when it’s missing. That’s where India’s audit ecosystem finds itself right now. NFRA’s latest inspection reports have pulled back the curtain on audi...
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