nfra may instil confidence among investors to help audit bodies raise funds

Ajay Bhushan Pandey, chairman of the National Financial Reporting Authority (NFRA), said this on Wednesday. He said that accounting and audit firms have a major role to play in building trust between investors and companies.

Pandey said that even though the NFRA is just a three-year old institution, there are global bodies like International Financial Reporting Standards (IFRS) and Public Company Accounting Oversight Board (PCAOB), which make the task a little easier.

Addressing the 19th Annual Capital Markets Conference organized by FICCI via video conference, he said that these institutions will really help in building immense trust among the companies and investors. He said that once this trust is established, the capital market will benefit from it.