India, Jan. 1 -- The Government of India has issued a release:
The National Financial Reporting Authority (NFRA) commenced in November 2025 issuing Audit Practice Toolkits with a focus on supporting the small and medium practitioners engaged in the audits.
The initiative is part of NFRA's systemic drive to continue to support the overall quality of auditing practices in India. This is in continuation of NFRA's recent initiatives to conduct outreach programs for audit firms and audit practitioners, especially focusing on small and medium practitioners.
Now, NFRA has issued an Audit Practice Toolkit titled 'Risk & Response Memorandum: ROMM (Risk of Material Misstatement) Assessment at Assertion Level for Revenue'. This Audit Practice Toolk...