India’s focus on adopting global best practices in auditing and accounting has spurred economic growth and job creation. NFRA announces an Innovation Lab to support cutting-edge auditing techniques, aiming to improve audit quality and transparency. ICAI launches the “Drishti” initiative and “AI in ICAI” committee to embrace technological advancements and enhance professional development. The importance of audits, including statutory, internal, cost, and GST audits, is emphasized. NFRA’s audit industry sandbox initiative aims to balance innovation and oversight.
