The main motive behind the NFRA is to oversee the quality of accounting and auditing services of the companies. So it is important that the auditor files the return on time for it to work effectively.
The Ministry of Corporate Affairs 
MCA extended the filing due date of the form NFRA – 2nd has clarified that the form NFRA 2 filing time limit of the time period from FY 2018-19 is now 270 starting from the date of deployment. It is to be noted that previously the MCA decided to grant 210 days from the date of deployment in filing the form NFRA 2 given in the 30th April circular.
It is mandatory to submit the form under Rule 5 of the National Financial Reporting Authority (NFRA) Rules 2018.
Previously, the ministry had extended the last date for 150 days of submitting form NFRA 2. It is mandatory for all the prescribed auditors to file form NFRA 2 as per the National Financial Reporting Authority (NFRA) Rules 2018 of the National Financial Reporting Authority (NFRA).
All the auditors of the company, covered under Rule 3 of the NFRA Rules 2018, are required to file annual returns in the form NFRA 2, mandatorily. The last date of filing the returns is 30th November of every financial year which was 30th April previously. The auditors are required to submit the following details in form NFRA 2:
- Details as per Rule 3(1) (a) to (d)
- Fees received by auditor
- Number of companies in the three preceding years
- Details of disciplinary and other proceedings against the auditor
- Statement of the auditor on control policies
- Other specified details
MCA Official Circular No. 26/2020
