NFRA looks to boost audit quality

New Delhi: To enhance the quality and the level of interactions between auditors and companies’ audit committees, NFRA chief Ajay Bhushan Prasad Pandey has said the watchdog plans to come out with six to seven papers having sets of questions that will cover various aspects of statutory audits. “The papers will also help the stakeholders in asking the right questions related to audits,” he said. Constituted in Oct 2018, the National Financial Reporting Authority has been making efforts to improve audit quality and has passed over 80 orders against various entities for auditing lapses.