Due Date for filing the mandatory e-form, NFRA-2 for reporting period 2022-23 (Audit reports signed during the period 01.04.2022 to 31.03.2023) is 30th Nov 2023.
Reetu | Nov 30, 2023 |
Due Date for filing NFRA-2 for FY 2022-23 today: Know More
The Due Date for filing the mandatory e-form, NFRA-2 for the reporting period 2022-23 (Audit reports signed during the period 01.04.2022 to 31.03.2023) is 30th November 2023. Auditors/firms are advised to file NFRA-2 today itself, if not already done so, as today is the last day to file this annual return.
The annual return must be filed in line with Rule 5 of the 2018 National Financial Reporting Authority Rules. The auditors/audit firms of the class of companies designated in Rule 3 of the NFRA Rules 2018 must file the annual return on or before November 30th of every year. NFRA-2 form is an annual return to be filed by the audit firm giving a host of details ranging from its registration and PAN number to details of fee received, details of the partners and the number of employees.
NFRA form 2 is applicable only where the reporting firm is an auditor of the body corporate covered under Rule 3(1) (e). For example, in case an Indian firm audits the accounts of a body corporate covered under Rule 3(1) (e), only then the Indian firm be required to file this.
In the previous years, NFRA had discovered cases of non-compliance with the aforementioned statutory standards and had notified defaulting companies. A list of such firms/auditors was also published on the NFRA website and forwarded to the Ministry of Corporate Affairs.
The attention of all defaulting audit firms/auditors is drawn to the fact that failure to file the NFRA-2 form is a non-compliance covered by Rule 13 of the NFRA rules and attracts penal provisions. The rule has been revised further by NFRA Amendment Rules 2022, dated 17.06.22. The revised Rule 13 is now available on the NFRA website.
If NFRA 2 is not filed, the Defaulters are liable to a fine of up to Rs. 5,000, and where the contravention continues, a further fine of up to Rs. 500 every day after the first will be applicable.
The National Financial Reporting Authority (NFRA) was constituted on 1st October, 2018 by the Government of India under Sub Section (1) of section 132 of the Companies Act, 2013.
As per Sub Section (2) of Section 132 of the Companies Act, 2013, the duties of the NFRA are to:
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