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ICAI backs NFRA's revision of forex reporting norms
Mint Mumbai
|March 08, 2025
ICAI's president said the proposed amendments provide useful information to users of financial statements
The accounting profession's self-regulator and rule-maker, the Institute of Chartered Accountants of India (ICAI), has backed audit watchdog National Financial Reporting Authority's (NFRA) proposal to revise reporting norms for foreign currency operations, saying it will bring more clarity.
The amendments are proposed to apply from annual reporting periods beginning on or after 1 April 2025, according to the NFRA.
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