Transparent Financial Reporting and Audit Quality Crucial for Corporate Governance: NFRA Chairperson

National Financial Reporting Authority ( NFRA ) Chairperson, Dr. Ajay Bhushan Prasad Pandey, highlighted the importance of transparent financial reporting and quality auditing in upholding robust corporate governance standards during the International Conference on Transparent Financial Reporting and Audit Quality: Pillars of Corporate Governance on March 5-6, 2024, in New Delhi.

The conference provided a platform for policymakers, global experts, professionals, and industry leaders to engage in vital discussions surrounding transparent financial reporting, audit quality, and effective corporate governance.

Justice Ashok Bhushan, Chairman of the National Company Law Appellate Tribunal ( NCLAT ), Uday Kotak, Founder of Kotak Mahindra Bank Ltd, Former Chief Justice of India, Justice U.U. Lalit, Dr. Manoj Govil, Secretary, Ministry of Corporate Affairs ( MCA )..etc attended the function.

The conference discussions focused on crucial themes vital for fostering transparency and accountability, including leveraging technological advancements to enhance audit effectiveness, ensuring investor protection through robust regulatory frameworks, staying current with recent reforms in auditing standards, emphasizing the critical roles of audit committees and independent directors in corporate governance, continuously improving financial reporting practices, promoting competition within the audit market, and integrating sustainability reporting into corporate practices.

The conference witnessed active participation from delegates representing regulatory bodies, audit firms, academia, and the corporate sector, both nationally and internationally. The exchange of ideas highlighted the shared commitment of stakeholders to create a more transparent and accountable financial ecosystem.