785 Auditors Fail to Comply in FY24

As many as 785 audit firms of listed companies failed to file the statutory returns for the firms audited by them for FY24, according to official sources.

- MANU KAUSHIK

NFRA-2 is an annual return that statutory auditors of listed and specified classes of unlisted companies must file with the NFRA each year.

Failure to submit the return amounts to gross violation of Companies Act and National Financial Reporting Authority (NFRA) Rules, 2018.

The provisional list issued by NFRA revealed that these firms were required to file the return with the audit regulator before November 2023, but they had not submitted it even till March 2025.