NEW DELHI: Audit committees must safeguard the independence of auditors, NFRA Chairperson Nitin Gupta emphasized on Thursday, highlighting the critical role of robust corporate governance practices.
Gupta outlined several fundamental principles for sound financial reporting, underscoring the essential contribution of external auditors. He noted that the National Financial Reporting Authority (NFRA) is actively working to strengthen financial reporting standards and is taking measures against lapses in auditing.
He added that effective internal controls and strong risk management systems are key pillars of good corporate governance.
Gupta made these remarks at the conference on “Agile Governance: Fostering Transparency & Building Trust” organized by industry body FICCI in New Delhi, reiterating the importance of audit committees in ensuring auditor independence.
