National Financial Reporting Authority (NFRA) has been constituted on 1st October 2018 under Section 132 of the Companies Act, 2013 vide MCA Gazette Notification No. 5099(E) dated 1st October, 2018. Thereafter, MCA has notified National Financial Reporting Authority Rules, 2018, vide Gazette Notification No. G.S.R. 1111(E). dated 13.11.18.
The NFRA is to be an independent regulator overseeing the auditing profession, and its creation was first recommended by the Standing Committee on Finance in its 21st report.
For more details, Please go through attached document.
Disclaimer:
The information contained herein is in summary form based on information available on different website mentioned above. The said information should be read with various notifications, circulars and FAQs release time to time. While the information is believed to be accurate to the best of our knowledge, we do not make any representations or warranties, express or implied, as to the accuracy or completeness of such information. This document is not an offer, invitation, advice or solicitation of any kind. We accept no responsibility for any errors it may contain or for any loss, howsoever caused or sustained, by the person who relies on it.