NFRA has issued a circular emphasizing the importance of effective two-way communication between Statutory Auditors and Those Charged With Governance (TCWG), including Audit Committees. This reinforces requirements under Companies Act, SA 260 (R), SA 265 and related standards to ensure robust dialogue throughout the audit process, timely discussion of key audit matters (like estimates, judgements, ECLs, tax and other complex areas), and quality financial reporting. The goal is to strengthen audit quality, governance, transparency and investor protection.
https://nfra.gov.in/nfra-circular-on-effective-communication-between-statutory-auditors-and-those-charged-with-governance-including-audit-committees/