It has been a tough couple of years for India’s Chartered accountants.

This was and, to some extent, still is one of the most sought-after jobs in the country. But lately, the amount of risk involved in their work has been amped up considerably.

And as a result, CAs have been resigning left, right and centre.

The reason this is happening is that the auditing industry has been undergoing a major shake-up.

And behind this shake-up is a relatively new, independent audit regulator called the NFRA, or the National Finance Reporting Authority.

The NFRA has set all sorts of records in the last two years. Since 2022, it has debarred 78 auditors and imposed close to Rs 20 crore in penalties.

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