India's Auditing Standards: A Global Alignment for Viksit Bharat

Ajay Bhushan Prasad Pandey, chief of NFRA, stresses the need for India's auditing standards to align with global practices, boosting investor confidence and attracting more funds. The NFRA has identified gaps in current standards and is working on updates in collaboration with key financial entities.

The National Financial Reporting Authority (NFRA) chief, Ajay Bhushan Prasad Pandey, emphasizes that aligning India's auditing standards with global benchmarks is crucial for enhancing investor confidence and drawing more investments.

Pandey noted significant gaps in India's current auditing practices compared to global standards, urging updates to leverage economic benefits.

The NFRA, since its inception in 2018, has actively worked to address these issues, with detailed discussions taking place with major financial regulators like the RBI and SEBI.

(With inputs from agencies.)