NFRA to engage with companies for better insights: Ajay Bhushan Pandey

To refer the matter to regulator if lapses found

The National Financial Reporting Authority (NFRA) has decided to directly engage with companies, not just auditors, in cases where it finds issues with financial statements, Chairman Ajay Bhushan Pandey told Business Standard.

The authority’s mandate is to inspect auditors. However, in certain cases, NFRA officials will engage with chief financial officers and audit committees to get a comprehensive understanding of the issues. If any lapses are found, the NFRA will refer the matter to the appropriate regulator.

“The NFRA’s mandate is to enforce accounting standards. Dialogue with audit committees and independent directors will help the inspection process and get their input, and