New Delhi, Sept. 1 -- The national audit regulator will launch a drive to enhance compliance by small and mid-sized audit firms in the country after several of them failed to file their annual returns.

The National Financial Reporting Authority (NFRA) will hold meetings with small and medium audit firms over the next few months, NFRA chairperson Nitin Gupta told Mint.

"We are initiating an outreach programme very shortly in different cities with a focus on the audit profession. It will include smaller and medium-sized audit firms. The message from NFRA is that auditors should follow what is required under the law, not just in form, but in spirit also," Gupta said.

Public money should be managed responsibly, added Gupta, who was previou...