PIB News Update: National Financial Reporting Authority (NFRA) has set up a Technical Advisory Committee (TAC) to, inter alia, provide NFRA with inputs from the perspective of various key stakeholders. The TAC has undertaken a consultative exercise to review NFRA’s engagement with its stakeholders, and has, in its report of March, 2021, recommended ways to enhance the same. Important recommendations of the TAC relate to formation of advisory/consulting groups, institution of fellowship programmes, publication of NFRA’s Inspection Policy, and building up of NFRA’s Regulatory Capacity.
NFRA acknowledges the valuable contribution of the TAC in this regard. NFRA has now prepared and published a Consultation Paper (available at https://www.nfra.gov.in/consultation_papers), incorporating its preliminary views, and proposed action plan, on the recommendations of the TAC and feels it appropriate to seek the comments/suggestions of the wider stakeholder group and the public at large on these recommendations/views/proposals. The last date for receipt of comments is 10 July 2021. The comments may be submitted by email at comments-tac.paper @nfra.gov.in.
About NFRA
National Financial Reporting Authority (NFRA) was established by the Central Government in October 2018 with the fundamental objective of driving systemic change in the Indian Financial Reporting System for Public Interest Entities (PIEs). NFRA has identified engagement with various categories of stakeholders as central in its strategy to deliver on its public interest mandate.