NFRA suggests 40 audit standards for LLPs to govt

The National Financial Reporting Authority (NFRA) recommended 40 auditing standards for limited liability partnerships (LLPs) to the corporate affairs ministry. These standards, finalized in November for companies, will apply to LLPs from April 2026. Concurrently, the Institute of Chartered Accountants of India (ICAI) launched an AI-powered platform, CA GPT, to streamline financial data analysis for chartered accountants.