NFRA releases Auditor-Audit Committee Interaction Series 4 titled: Audit of Accounting Estimates and Judgments-Impairment of Non-financial Assets

India, Sept. 30 -- The National Financial Reporting Authority (NFRA) has released the Auditor-Audit Committee Interactions Series 4, titled: Audit of Accounting Estimates and Judgements-Impairment of Non-financial Assets- Ind AS 36, SA 540 etc.

In the course of NFRA's enforcement, review and monitoring activities, the auditor's communication with those charged with Governance (TCWG) (including the Audit Committees) has been highlighted. A need has been felt through these activities towards reinforcing the ways and means of communication between the Statutory Auditors and the Audit Committees in particular drawing upon the requirements in the Companies Act 2013 (CA 2013), the two relevant Standards on Auditing (SA 260 (R) and 265), other re...