Government unveils National Financial Reporting Authority Rules, 2018
The Government lays down NFRA Rules, 2018. The rules shall be applicable on all listed Companies and other specified classes of companies. The Rules prescribes functions and duties of the Authority. It requires specified auditors to file annul return with the authority on or before 30th April year. Now NFRA shall receive recommendations from ICAI on proposals for new accounting and auditing standards.