Aligning with global audit norms key to Viksit Bharat vision: NFRA Chairman

Ajay Bhushan Pandey says the latest reforms proposed to India's audit standards are historic and long overdue

Ajay Bhushan Pandey, chairman, National Financial Reporting Authority (NFRA), in an interview with Ruchika Chitravanshi in New Delhi, says the latest reforms proposed to India’s audit standards are historic and long overdue. Edited excerpts:

 

You have shared your recommendations with the Ministry of Corporate Affairs (MCA) on revising audit standards. What feedback have you received from the government? 

In our most recent meeting, which included representatives from the Comptroller and Auditor General (CAG) and regulators, there was a unanimous agreement — except with the Institute of Chartered Accountants of India on a few matters — to align India’s auditing standards