National Financial Reporting Authority (NFRA)

  • It was constituted on 1st October, 2018 by the Government of India under Sub Section (1) of Section 132 of the Companies Act, 2013.
  • The NFRA is an independent regulator overseeing the auditing profession, and its creation was first recommended by the Standing Committee on Finance in its 21st report.
  • It recommends accounting and auditing policies and standards to be adopted by companies for approval by the Central Government.
  • It monitors and enforces compliance with accounting standards and auditing ....
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