Interactive session on impact of NFRA to Industry/CFO & Key Audit Matters Reporting effective FY 2018-19.

EBG Federation Bangalore Chapter along with Kotak Mahindra Bank organized “ Interactive session on impact of Constitution of National Financial Reporting Authority (NFRA) to industry / CFO & Key Audit Matters Reporting Effective FY 2018-19 “ renowned Chartered Accountant CA M P Vijay Kumar - CFO, Sify Technologies Ltd and Central Council Member of ICAI was anchor of the session. The session was highly interactive and candid, the discussion was on what it means to accounting profession like NFRA evolution, Government of India Press release, Misconceptions, NFRA international scenario, NFRA-ICAI impact, NFRA composition, NFRA – work in progress, Disciplinary Committee at ICAI, impact to Accounting profession, and Regulations. Standard on Auditing (SA) 701, Communicating Key Audit Matters in the Independent Auditor’s Report discussed with need for ISA 701, benefits and principles of ISA 701. Key Accounting Matters points where also discussed extensively. In this interactive session, European companies Ikea, Astro Mueller, Bavarian Indian Centre, Enerpace, Essilor India Private Ltd, MTR etc., participated and got the benefits. Participants had ample time to spend one on one discussion with Mr. Vijay Kumar to get some specific insights. The event got concluded by presentation of memento by Kotak Regional Manager Mr. Sathish, earlier Mr. Karthik Vice President and Area Manager – International Business of Kotak Mahindra Bank Welcomed the participants.