The Companies Act 2013 has brought in significant changes in the areas of auditor independence, including limits on number of audits for an auditor and Mandatory Firm Rotation (MFR ) requirement in India. Vishesh Chandiok & Yogesh Sharma says, “MFR has the potential to pave the way for substantial changes in the structure of the audit profession.”

Vishesh Chandiok
National Managing Partner, Grant Thornton India LLP

Yogesh Sharma
Partner, Grant Thornton India LLP

This article apeared in Business Standard on 26th September, 2016.