NFRA board proposes new audit regime in India from April 2026

The National Financial Reporting Authority (NFRA) proposes a new accounting regime for India, aligning auditing standards with global norms. While largely agreeing with the Institute of Chartered Accountants of India (ICAI), NFRA's push for principal auditor accountability in group audits and classifying quality management standards as auditing standards faced opposition.
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