A Parliamentary panel has suggested that regulator NFRA conduct sectoral studies to identify industry-specific accounting and auditing challenges as well as put in place sector-specific accounting guidance to help boost investor confidence.
The National Financial Reporting Authority (NFRA), set up by the government in 2018 under the Companies Act, 2013, regulates auditors and monitors compliance with accounting and auditing standards by companies. It also oversees the quality of audit services to ensure reliability in financial reporting.
In a report tabled in the Lok Sabha on Thursday on the corporate affairs ministry’s demand for grants 2026-27, the Standing Committee on Finance has made certain recommendations in relation to the NFRA.
According to the report, the corporate affairs ministry should take expeditious steps to operationalise the separation between audit quality review and disciplinary functions within the NFRA to strengthen procedural clarity, institutional independen​A Parliamentary panel has suggested that regulator NFRA conduct sectoral studies to identify industry-specific accounting and auditing challenges as well as put in place sector-specific accounting guidance to help boost investor confidence.
The National Financial Reporting Authority (NFRA), set up by the government in 2018 under the Companies Act, 2013, regulates auditors and monitors compliance with accounting and auditing standards by companies. It also oversees the quality of audit services to ensure reliability in financial reporting.
In a report tabled in the Lok Sabha on Thursday on the corporate affairs ministry’s demand for grants 2026-27, the Standing Committee on Finance has made certain recommendations in relation to the NFRA.
According to the report, the corporate affairs ministry should take expeditious steps to operationalise the separation between audit quality review and disciplinary functions within the NFRA to strengthen procedural clarity, institutional independen ​Latest News [ SOBAN NEWS: International and National ]
