Audit committees, independent directors should ask questions to auditors and CFO ..
The Audit Committees and Independent Directors of the companies should ask questions to the auditors and the Chief Financial Officers who are the preparers of the financial statements to ensure a true and fair view of the accounts, stressed Ajay Bhushan Pandey, Chairperson, at India’s independent accounting watchdog, National Financial Reporting Authority(NFRA)
“Today we (regulators) are asking questions to auditors but these questions should actually have been asked by the members of the Audit Committee and Independent Directors to auditors and CFO ( preparers of the accounts) in the first place to ensure that the financial statements present a true and fair view,” Bhushan told ETCFO in an interview.
