NFRA Recommends 40 Auditing Standards for LLPs, Effective From 1 April 2026, Upon Central Government Approval
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- By Chetan Kulasri
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- Last Updated on 27 November, 2024
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Press Release Dated: 25.11.2024
The National Financial Reporting Authority (NFRA), in its 19th meeting, recommended 40 Standards on Auditing (SAs) and related Standards on Quality Management (SQMs) for LLP audits under Section 34A of the LLP (Amendment) Act 2021. These standards, finalized in its earlier meeting, will apply to LLPs on a mutatis mutandis basis. Upon the approval of the Central Government, these Standards are recommended to be effective from 01.04.2026.
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