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Namaste dosto! Today I'm bringing you breaking news about a major controversy between NFRA and ICAI. The National Financial Reporting Authority (NFRA) has declared ICAI's recent Quality Management Standards illegal and void ab initio.

In this video, I explain the complete details of ICAI's implementation of SQM 1 and SQM 2, and why NFRA has raised serious objections. We'll discuss the legal requirements under Section 143(10) and how ICAI's actions might have bypassed the proper procedure for standards implementation.

I've covered everything from the global shift towards quality management standards to the specific timeline of implementation proposed by ICAI. This clash between our profession's regulatory bodies could have significant implications for practicing CAs.

Don't forget to like, share, and subscribe for more such updates on professional matters.

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About Neeraj Arora: Neeraj Arora is a distinguished educator specializing in CA Inter Audit and CA Final Audit. With a passion for teaching and a talent for simplifying complex subjects, Neeraj has helped thousands of students achieve their CA goals. His engaging teaching style, combined with a deep understanding of the CA curriculum, makes him a trusted mentor in the CA community.

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