Audit watchdog NFRA rolls out model strategy to fix audit planning flaws and raise accountability standards
Amid India’s tightening audit oversight, the National Financial Reporting Authority (NFRA) has issued a model Audit Strategy Memorandum (ASM) to raise audit planning standards. But can firms match regulatory expectations, strengthen scrutiny in banks and non-banking financial companies (NBFCs), and close persistent gaps in audit quality and accountability? Here is what NFRA’s staff paper said:
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