Ensuring Auditor Independence: A Call for Stronger Corporate Governance
NFRA Chairperson Nitin Gupta emphasizes the need for audit committees to safeguard auditor independence as he underscores the significance of robust corporate governance. He advocates for fundamental principles in financial reporting and cautions against lapses while emphasizing effective internal control and risk management for transparency.
- Country:
- India
Audit committees must prioritize the independence of auditors, urged NFRA Chairperson Nitin Gupta on Thursday. Speaking at a Ficci conference in the national capital, he emphasized the critical role of sound corporate governance practices.
Gupta highlighted the necessity of adhering to fundamental principles for effective financial reporting, with external auditors playing a pivotal role in this framework. The National Financial Reporting Authority has been proactive in enhancing these practices and addressing audit discrepancies.
Gupta also stressed that comprehensive internal controls and robust risk management systems are vital components of transparent governance, aligning with the conference theme 'Agile Governance: Fostering Transparency & Building Trust.'
(With inputs from agencies.)
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