Question
What does NFRA stand for in the context of its role as
an independent regulator overseeing the auditing profession and Indian Accounting Standards under the Companies Act 2013?Solution
National Financial Reporting Authority is an independent regulator set up to oversee the auditing profession and the Indian Accounting Standards under the Companies Act 2013. It came into existence in October 2018. The chairperson since March 2022 is Ajay Bhushan Pandey.
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