You are here: Home » Economy & Policy » News
Business Standard

Cabinet nod for setting up of NFRA as independent regulator for auditors

The regulator would have a chairperson and three full-time members. Besides, there would be a secretary

Press Trust of India  |  New Delhi 

auditors, NFRA, auditing
Representative Image

The Cabinet on Thursday approved setting up of the (NFRA), which will be an independent regulator for the profession.

The decision comes against the backdrop of various lapses in the banking sector, including the Rs 114 billion fraud at

"The will act as an independent regulator for the profession which was one of the key changes brought in by the Companies Act, 2013," Corporate Affairs Minister Arun Jaitley said.


The jurisdiction of the - which would be an oversight body for -- would extend to all listed companies as well as large unlisted public companies.


The regulator would have a chairperson and three full-time members. Besides, there would be a secretary.

Jaitley said would help in improving foreign and domestic investments as well as support globalisation of business by meeting international practices.

First Published: Thu, March 01 2018. 19:25 IST
RECOMMENDED FOR YOU