National Financial Regulatory Authority (NFRA) organised a seminar on “High Quality Financial Reporting Framework through Effective Independent Oversight” here today as part of Azadi Ka Amrit Mahotsav (AKAM) week-long celebrations by Ministry of Corporate Affairs.
AKAM celebrations were inaugurated by the Hon’ble Prime Minister Shri Narendra Modi in March 2021 which marked 75-week countdown to the 75th Anniversary of our independence in August, 2022. The celebrations will continue for a year thereafter until August 2023.
Union Minister of State (Independent Charge) for Statistics & Programme Implementation; Planning; and MoS, Corporate Affairs Shri Rao Inderjit Singh inaugurated the seminar and the event and delivered a keynote address. Shri Rajesh Verma, Secretary, Ministry of Corporate Affairs, participated as Guest of Honour. Earlier, Dr Ajay Bhushan Pandey, NFRA, Chairperson, welcomed the dignitaries.
An All-India level quiz competition was also conducted on MyGov portal of the Government of India in December- January 2022 so as to encourage the younger cohorts especially students in the audit regulation and compliance requirements, which saw a massive turnout of more than 27000 participants. Winners of the All-India level Quiz conducted by NFRA in December-January, 2022 were felicitated by the Union Minister of State.
The event saw participation from experts in regulation of audit and accounting standards, both from the domestic and the international arena. An expert from Certified Public Accountants and Auditing Oversight Board, Japan addressed the session on “Global experiences about review of Audit Quality and Financial Reporting”.
Two panel discussions on “Independent Audit Regulators-India & Global Scenario” and “Enhancing Financial Reporting Quality-Role of Independent Oversight Bodies” were held with representations from the academic and the corporate sector. NFRA members Sri Praveen Tewari and Smt Smita Jhingran moderated the panel discussions.