As it seeks to enhance engagement with stakeholders, the National Financial Reporting Authority (NFRA) will set up a single stakeholders’ advisory group as well as a research cell to support the group while on-site inspection is not a priority for the almost three-year-old watchdog at this stage.
Besides, NFRA — an independent regulator for accounting and auditing in India — is of the view that introduction of a ‘settlement mechanism’ for cases is only one aspect of many changes that need to be brought about in the law to properly define its remit.
