National Financial Reporting Authority

The National Financial Reporting Authority (NFRA) will get more powers to act against auditors and company executives.

  • The Company Law Review Committee chaired by Rajesh Verma (Secretary in the Ministry of Corporate Affairs) has recommended expanding NFRA’s oversight to certain wrongful deeds of senior company executives and lapses of auditors other than their professional misconduct.

About NFRA

  • It was constituted on 01st October, 2018, by the Government of India under Sub Section (1) of Section 132 of the Companies Act, 2013.
  • The Companies Act requires the NFRA to have a chairperson who will be appointed by the Central Government and a maximum ....
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