New Delhi, Jun 8 (IANS): The National Financial Reporting Authority (NFRA) has set up a Technical Advisory Committee (TAC) to provide it with inputs from the perspective of various key stakeholders.

The TAC has undertaken a consultative exercise to review the NFRA's engagement with its stakeholders, and has, in its report of March 2021, recommended ways to enhance the same, a government statement said.

Important recommendations of the TAC relate to formation of advisory/consulting groups, institution of fellowship programmes, publication of NFRA's Inspection Policy, and building up of NFRA's regulatory capacity.

The NFRA acknowledges the valuable contribution of the TAC in this regard. It has now prepared and published a consultation paper, incorporating its preliminary views, and proposed action plan, on the recommendations of the TAC and is seeking comments/suggestions of the wider stakeholder group and the public at large on these recommendations/views/proposals.

The government statement said that the last date for receipt of comments is July 10.

The NFRA was established by the Centre in October 2018 with the fundamental objective of driving systemic change in the Indian Financial Reporting System for Public Interest Entities (PIEs). NFRA has identified engagement with various categories of stakeholders as central in its strategy to deliver on its public interest mandate.