Moneycontrol
Last Updated : Oct 12, 2018 07:21 PM IST | Source: Moneycontrol.com

Editor's Take | IL&FS to be audit watchdog NFRA's first test case

The National Financial Reporting Authority has been set up as an independent regulator for chartered accountants, to enforce accounting and auditing standards, therefore, enhancing investor and public confidence in financial disclosures of companies.

Moneycontrol News @moneycontrolcom

The Infrastructure Leasing & Financial Services (IL&FS) crisis will be the first case for the newly-constituted auditors’ watchdog, National Financial Reporting Authority (NFRA). A top government official said, “IL&FS will be a test case for NFRA,” which was set up as an independent regulator for chartered accountants, to enforce accounting and auditing standards, therefore, enhancing investor and public confidence in financial disclosures of companies.

Sakshi Batra gets all the details from Ravi Krishnan, Deputy Executive Editor at Moneycontrol, about how the case could shape the finance industry on a whole.

Watch the video for more…

 
First Published on Oct 11, 2018 05:31 pm
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