New Delhi: A Leap Towards Enhanced Audit Quality

In a significant move to bolster the quality of audits and foster deeper engagement between auditors and companies' audit committees, the National Financial Reporting Authority (NFRA) is set to introduce a series of insightful papers. These documents, as revealed by NFRA chief Ajay Bhushan Prasad Pandey, will encompass a broad spectrum of questions aimed at various facets of statutory audits. "These papers are designed to empower stakeholders with the right inquiries regarding audits," Pandey stated.

Since its inception in October 2018, the NFRA has been at the forefront of enhancing audit quality, having issued over 80 orders against entities for auditing discrepancies. This initiative marks a continuation of their relentless pursuit of excellence in financial reporting and transparency.