NFRA Launches National Outreach to Strengthen Audit Quality & Stakeholder Trust

The findings from the survey will help NFRA tailor its policies, refine its responsibilities, and support audit practitioners more effectively in the coming years.

 

The National Financial Reporting Authority (NFRA) has announced a series of nationwide outreach programmes designed to engage more closely with audit professionals and enhance audit quality across India. The initiative, themed “Creating a Better Financial Reporting World”, is aimed at fostering sustainable audit practices, encouraging best standards, and promoting greater transparency in financial reporting.

Launch of Outreach Series

The first programme will be inaugurated in Hyderabad on 26 September 2025 by Shri Nitin Gupta, Chairperson, NFRA. The second will be held in Indore on 6 October 2025, with additional sessions planned in other major cities throughout the year.

The events will bring together a wide range of stakeholders, including audit professionals, chartered accountants, professional bodies, academics, and subject matter experts, for discussions on practical themes and technical aspects of auditing.

Focus on Audit Quality and Best Practices

Each programme will feature interactive technical sessions and workshops covering:

• Public Interest Entity (PIE) audits and their unique challenges.

• Audit quality standards and methods to improve compliance.

• Sustainability in audit practices for small, medium, and large firms.

• Skill enhancement and technical knowledge sharing to strengthen the profession.

NFRA has emphasized that these outreach efforts are intended not only to improve professional practice but also to act as a platform for collective dialogue, where auditors can share feedback and raise practical issues faced in their work.

Building on Past Engagements

This series builds upon NFRA’s successful engagements in 2024, when it partnered with the Bombay Chartered Accountants Society and the Karnataka State Chartered Accountants Association. Those earlier sessions generated significant professional interest and underlined the importance of sustained dialogue between regulators and practitioners.

By expanding its reach to new regions, NFRA aims to create a collaborative ecosystem where regulatory expectations are clarified, and firms of all sizes—especially smaller audit firms—are better equipped to align with best practices.

First-Ever Audit Firms Survey 2025

Complementing the outreach programmes, NFRA has also launched its first-ever “Audit Firms Survey 2025”, a landmark initiative designed to gather data-driven insights into audit quality, operational challenges, and evolving market practices.

The survey aims to:

• Identify areas for improving audit performance and compliance.

• Understand the practical challenges of small and mid-sized audit firms.

• Build a knowledge base for more targeted regulatory interventions.

• Strengthen NFRA’s role as a facilitator of dialogue and reform.

The findings from the survey will help NFRA tailor its policies, refine its responsibilities, and support audit practitioners more effectively in the coming years.

Commitment to Collaborative Growth

Announcing the programmes, NFRA reiterated its commitment to raising audit quality standards and strengthening public trust in financial reporting. By engaging directly with professionals, the regulator seeks to ensure that the audit community is prepared for emerging challenges in a rapidly evolving business and regulatory environment.

NFRA has also invited stakeholders from across the country to request additional outreach sessions, signaling its openness to continuous engagement and capacity-building efforts.

A Step Toward Stronger Financial Ecosystems

With these initiatives, NFRA is laying the groundwork for a robust and sustainable audit ecosystem in India—one that prioritizes accountability, skill development, and ethical practices. The outreach series and the Audit Firms Survey 2025 together mark a forward-looking step in building a transparent, professional, and high-quality financial reporting environment.