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NFRA's Webinar Revolution: How India Aims for Global Financial Standards

The National Financial Reporting Authority has launched a new webinar series to improve India's financial reporting ecosystem. This initiative aims to bring Indian standards in line with global benchmarks through specialized training. The webinars will cover complex accounting areas that require significant professional judgment from auditors. Both preparers and auditors, especially small and medium practitioners, will benefit from these sessions.

Key Points: NFRA Launches Webinar Series 2025-26 for Financial Reporting

  • Webinar series focuses on complex accounting requiring professional skepticism
  • Covers both accounting and auditing considerations for preparers and auditors
  • First webinar on Impairment of Assets under Ind AS 36 on November 26
  • Series to address revenue recognition and expected credit loss over four months
2 min read

NFRA launches webinar series to create better financial reporting ecosystem

NFRA launches Webinar Series 2025-26 to enhance India's financial reporting quality, covering complex accounting areas and supporting auditors and preparers.

"The initiative supports enhancing the overall quality of the financial reporting ecosystem in India, comparable to global benchmarks. - NFRA"

New Delhi, Nov 18

The National Financial Reporting Authority (NFRA), the independent regulator for Audit and Accounting matters, on Tuesday launched another regulatory tool, ‘Webinar Series 2025-26’.

The initiative supports enhancing the overall quality of the financial reporting ecosystem in India, comparable to global benchmarks.

This tool of webinars is in continuation of NFRA’s larger project to connect with and support the key stakeholders in the financial reporting supply chain by way of various types of outreach programmes, such as audit workshops, Audit Practice Toolkits, and Auditor-Audit Committee Interaction series.

The launch of 'Webinar Series 2025-26' will be formally inaugurated by Chairperson, NFRA, Nitin Gupta, on November 26 on the topic ‘Impairment of Assets under Ind AS 36’.

The Webinar Series 2025-26 will cover complex accounting areas that involve significant management estimates and judgments, therefore, requiring elevated professional scepticism on the part of the auditors.

Accordingly, the Webinar Series is structured suitably to cover both Accounting and Auditing considerations and thereby support both the Preparers and Auditors, especially the small and medium practitioners.

Accounting aspects will be dealt with by relevant professionals of the subject matter, such as valuation experts, risk management experts.

Over the next four months, NFRA plans to conduct webinars in other areas of critical Accounting and Auditing matters, such as revenue recognition over a period of time, expected credit loss, etc.

Auditors, Accountants and Independent Directors are invited to support the deliberations in these webinars.

Meanwhile, the Income Tax Department will notify new income‑tax return (ITR) forms and related rules under the streamlined Income Tax Act, 2025, by January, and the updated regulations will be effective from April 1, 2026.

The updated regulations will mark the transition from the nearly six-decade-old Income Tax Act of 1961, multiple reports cited Central Board of Direct Taxes chairman Ravi Agrawal as saying.

Agrawal said the department is designing the new forms, keeping them simple and easy to comply with and adapt to.

- IANS

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Reader Comments

R
Rohit P
Great move by NFRA! The focus on small and medium practitioners shows they understand ground realities. Hope these webinars are practical and not just theoretical. The timing with new ITR forms coming is perfect for comprehensive learning.
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Anjali F
While I appreciate the initiative, I hope these webinars are accessible to professionals in tier-2 and tier-3 cities too. Sometimes such programs remain Delhi/Mumbai focused. The content looks excellent though! 🤔
S
Siddharth J
As an independent director, I find this extremely valuable. The transition from Income Tax Act 1961 to 2025 will require significant learning, and having NFRA's guidance through webinars will make the process smoother for everyone involved.
K
Karthik V
Finally! Professional scepticism is something that's often missing in audit practices. Covering both accounting and auditing aspects will give a complete picture. Hope they record these sessions for future reference. 📊
M
Meera T
The inclusion of valuation experts and risk management professionals shows NFRA's commitment to quality. This will definitely help bridge the gap between Indian standards and global benchmarks. Good initiative for corporate governance! 🌟

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