Supreme Court Allows NFRA to Continue Proceedings Against CAs, but Restricts Final Orders

The Supreme Court has allowed the National Financial Reporting Authority (NFRA) to continue proceedings against chartered accountants, but with restrictions on issuing final orders. This decision clarifies the NFRA's regulatory powers over auditing professionals. The court's ruling balances the NFRA's mandate to ensure audit quality with the need to protect the rights of chartered accountants. This ruling provides clarity on the NFRA's scope of authority.