Section 4(2) in National Financial Reporting Authority Rules, 2018
(2)In particular, and without prejudice to the generality of the foregoing, the Authority shall: -(a)maintain details of particulars of auditors appointed in the companies and bodies corporate specified in rule 3;(b)recommend accounting standards and auditing standards for approval by the Central Government;(c)monitor and enforce compliance with accounting standards and auditing standards;(d)oversee the quality of service of the professions associated with ensuring compliance with such standards and suggest measures for improvement in the quality of service;(e)promote awareness in relation to the compliance of accounting standards and auditing standards;(f)co-operate with national and international organisations of independent audit regulators in establishing and overseeing adherence to accounting standards and auditing standards; and(g)perform such other functions and duties as may be necessary or incidental to the aforesaid functions and duties.
