The National Financial Reporting Authority (NFRA) on November 03, 2025, issued the notification regarding the ‘Audit Practice Toolkit’
The following has been stated namely: -
• The National Financial Reporting Authority (NFRA) has started issuing audit practice toolkits to support small and medium audit practitioners, aiming to enhance the overall quality of auditing practices in India.
• The first toolkit focuses on the development and documentation of audit strategy aligned with the risk profile of the auditee entity, serving as a sample, scalable, and adaptable document for companies of different sizes and industries.
• NFRA plans to release more toolkits covering other important audit areas during the remainder of the financial year. The toolkits are available on the NFRA website.
[Notification No. 2186000]
