NFRA rolls out audit toolkit to aid small, medium practitioners

New Delhi, Nov 3 (PTI) The National Financial Reporting Authority (NFRA) on Monday rolled out audit practice toolkits to support small and medium practitioners and strengthen audit quality across the country.

The toolkit focuses on one of the most critical aspects of audit the development and documentation of an audit strategy that matches the risk profile of the auditee entity.

It serves as a sample document, which is scalable and adaptable to companies of varying sizes and sectors, audit regulator NFRA said in a statement.

The move is part of NFRA's systemic drive to continue to support the overall quality of auditing practices in India.

NFRA has recently conducted several outreach programmes for audit firms and audit practitioners, especially focusing on small and medium practitioners, it added.

The audit regulator said it plans to issue similar audit practice toolkits in the current financial year, covering other significant audit areas. PTI HG TRB