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NFRA Called on Audit Committees of mainly listed companies to ask their Auditors tough Question
The NFRA has called on audit committees to ask auditors tough questions about credit risks and related party transactions. These questions are aimed at ensuring transparency and trust in financial statements. More questions will be released in the coming weeks. This move aims to improve audit quality, protect the public interest, and ensure investor protection.
The National Financial Reporting Authority (NFRA) on Friday called on audit committees of mainly listed companies to ask their auditors tough questions, including whether they themselves have evaluated credit risks facing the firms or relied solely on the management’s judgment while preparing the financial statements.
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