NFRA puts audit quality at the core, launches nationwide outreach programmes for professionals

In a first and a clear message to the industry, the National Financial Reporting Authority (NFRA) is making audit quality its prime focus with the launch of a nationwide series of outreach programmes aimed at strengthening engagement with professionals and fostering sustainable audit practices.

The initiative, titled “Creating a Better Financial Reporting World”, is designed to promote best practices in audits, particularly those concerning Public Interest Entities (PIEs).

The inaugural programme will be held in Hyderabad on September 26, 2025, to be opened by NFRA Chairperson Nitin Gupta, followed by another session in Indore on October 6, 2025, with similar events planned across the country throughout the year.

Through these workshops, NFRA seeks to bring auditors, academics, professional bodies, and industry experts together to deliberate on pressing issues around audit quality, technical competencies, and evolving global standards. Informative technical sessions will accompany the discussions to equip firms of all sizes with tools and insights to enhance audit practices.

“This new series is part of NFRA’s ongoing commitment to create a strong, transparent, and reliable audit ecosystem. By working closely with practitioners, we aim to ensure that India’s financial reporting stands on par with global standards,” the authority said in a statement.

The initiative builds on NFRA’s past collaborations in 2024 with bodies such as the Bombay Chartered Accountants Society and the Karnataka State Chartered Accountants Association, marking a shift toward broader, structured engagement with the profession.

In a parallel move, NFRA has also rolled out its first-ever Audit Firms Survey 2025, which will be conducted alongside the outreach sessions. The survey aims to capture industry insights on challenges and opportunities in audit quality, providing NFRA with data to refine its regulatory approach and enable more meaningful dialogue with practitioners.

The dual strategy—direct engagement through outreach programmes and feedback collection through surveys—is intended to build a long-term foundation for improved audit quality in India. NFRA has also invited stakeholders to suggest additional cities and topics for future sessions, underlining its intent to make the effort inclusive and continuous.

With this initiative, NFRA is signaling that strengthening audit quality will be central to its mandate, ensuring that India’s financial reporting ecosystem remains credible, transparent, and globally competitive.