NFRA necessary reform, needs to be strengthened - Expert panel
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“The global trend indicates a shift from self-regulation to independent regulatory structure in the domain of audit regulation due to failure of self-regulatory model in regulating professionals,” the government said in a statement. “In light of these developments, NFRA is a necessary institutional reform, which would align the Indian audit landscape with global position.”
In its report, the committee said Indian laws and regulations on professional services need to keep pace with changing market dynamics to facilitate a business friendly environment for corporate and professionals in the country.
“Taking note of this requirement, the report delves into critical issues like advertising, multi-disciplinary practice firms and branding,” the statement said. #casansaar (Source - Economic Times)
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