The government has recently appointed Nitin Gupta, former Chairman of the Central Board of Direct Taxes (CBDT), as the new Chairperson of the National Financial Reporting Authority (NFRA). NFRA was established in 2018 by the Government of India under the Companies Act, 2013. It is headquartered in New Delhi. NFRA recommends accounting and auditing policies and standards for companies. It monitors and ensures compliance with these standards across companies. It oversees the quality of services provided by professionals in the accounting and auditing field.
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