The National Financial Reporting Authority (NFRA) conducted its sixth outreach program in Ahmedabad as part of a series that commenced in 2025, with the theme "Creating a Better Financial Reporting Ecosystem". The program was specifically focused on small and medium auditors and aimed to support professional capacity building, strengthen audit quality, and improve financial reporting quality. This marked the second such outreach program held in collaboration with the Institute of Chartered Accountants of India (ICAI), following the first program held in Pune in June 2026.
The event was inaugurated by Nitin Gupta, Chairperson of NFRA, and CA Prasanna Kumar D, President of ICAI. In his keynote address, Shri Gupta emphasized the pivotal role of the accountancy profession in safeguarding public interest and building trust in financial reporting. He stressed the need to remain aligned with contemporary global standards and called upon audit firms to continuously enhance their competencies, including adopting appropriate technology in the audit process.
CA Prasanna Kumar D, President of ICAI, stated that audit quality in financial reporting is critical for building trust and confidence among stakeholders. Ms. Smita Jhingran, Full-Time Member of NFRA, highlighted the importance of NFRA's inspection of audit firms in ensuring high-quality financial reporting.
The program included expert sessions designed to provide practical insights for improving audit quality in day-to-day professional work. These comprised technical sessions on key aspects such as Audit Strategy Documentation, Risk of Material Misstatements, and case studies on takeaways from NFRA's oversight activities. Since the initiative was launched last year, NFRA's outreach programs have elicited participation from representatives of more than 450 small and medium firms.