Workshop Series focusses on Small and Medium Audit Practitioners of Indore

The National Financial Reporting Authority (NFRA) organized a one-day stakeholder outreach programme and workshop in Indore. The programme is a part of the series “Creating Better Financial Reporting Ecosystem”. The inaugural programme of this series was held at Hyderabad on 26.09.2025. The Indore programme focused on strengthening audit quality among Small and Medium Audit Practitioners (SMPs) and brought together professionals from across Madhya Pradesh and the region to deliberate on key aspects of audit practice in India’s evolving regulatory landscape.

The workshop was inaugurated by Shri P. Daniel, Full Time Member, NFRA. In his inaugural address, Shri Daniel emphasized the pivotal role of the accountancy profession in safeguarding public interest and building trust in financial reporting. He highlighted the importance of professional scepticism, independence, and adherence to global best practices in strengthening India’s financial ecosystem. He stated that the outreach programmes planned by NFRA were towards supporting audit quality efforts by small and medium practitioners.

The programme also featured a Special Address by CA Manoj Fadnis, Former President of ICAI, who highlighted the challenges and opportunities before SMPs and encouraged practitioners to continuously enhance quality and adopt innovation in audit practices. CA Kemish Soni, former CCM ICAI also addressed the participants.

The technical sessions were designed to provide practical insights to practitioners and covered important topics such as Audit Strategy Documentation, Audit Sampling and Concluding the Audit. Eminent expert faculty CA Aseem Trivedi, along with NFRA officers shared their expertise and experience. The sessions provided actionable takeaways for strengthening audit quality in day-to-day practice.

NFRA urged practitioners to file NFRA-2 returns on time and also participate in its Audit Firms Survey 2025 to support systemic improvements in audit quality.

Audit quality strengthened through outreach urging SMPs to adopt best practices and comply with reporting obligations. A national financial reporting regulator held a one-day outreach workshop in Indore for Small and Medium Audit Practitioners focused on strengthening audit quality by promoting professional scepticism, independence, and global best practices. The event provided practical guidance on Audit Strategy Documentation, Audit Sampling, and concluding audits, and the regulator urged timely filing of mandated returns and participation in its Audit Firms Survey to support systemic improvements in audit oversight.