{"id":113959,"date":"2023-05-03T15:20:58","date_gmt":"2023-05-03T09:50:58","guid":{"rendered":"https:\/\/legalwindow.in\/?p=113959"},"modified":"2023-07-11T12:37:12","modified_gmt":"2023-07-11T07:07:12","slug":"national-financial-reporting-authority","status":"publish","type":"post","link":"https:\/\/www.legalwindow.in\/blog\/national-financial-reporting-authority\/","title":{"rendered":"A Brief Overview on National Financial Reporting Authority"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-113963 size-full\" title=\"National Financial Reporting Authority\" src=\"https:\/\/legalwindow.in\/wp-content\/uploads\/A-Brief-Overview-on-National-Financial-Reporting-Authority-1.png\" alt=\"National Financial Reporting Authority\" width=\"1200\" height=\"630\" srcset=\"https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/A-Brief-Overview-on-National-Financial-Reporting-Authority-1.png 1200w, https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/A-Brief-Overview-on-National-Financial-Reporting-Authority-1-600x315.png 600w, https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/A-Brief-Overview-on-National-Financial-Reporting-Authority-1-300x158.png 300w, https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/A-Brief-Overview-on-National-Financial-Reporting-Authority-1-1024x538.png 1024w, https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/A-Brief-Overview-on-National-Financial-Reporting-Authority-1-768x403.png 768w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">National Financial Reporting Authority (NFRA) was constituted by the Government of India in 2018 under the <\/span><span style=\"font-weight: 400;\">Companies Act, 2013<\/span><span style=\"font-weight: 400;\">. NFRA is an independent regulatory body responsible for overseeing the quality of financial reporting and auditing of <\/span><a href=\"https:\/\/legalwindow.in\/composition-of-the-board-of-directors-of-a-listed-company-in-india\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">listed companies<\/span><\/a><span style=\"font-weight: 400;\"> in India. The establishment of NFRA was a significant step towards ensuring transparency, accountability, and credibility in financial reporting. In this article we will discuss about National Financial Reporting Authority in great detail.<\/span><\/p>\n<table style=\"width: 100%;\">\n<tbody>\n<tr>\n<td style=\"border: 1px solid #555;\"><b>Table of Content<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#is\"><span style=\"font-weight: 400;\">What is National Financial Reporting Authority (NFRA)?<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#of\"><span style=\"font-weight: 400;\">Objectives of National Financial Reporting Authority<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#in\"><span style=\"font-weight: 400;\">Impact of National Financial Reporting Authority in India<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#authority\"><span style=\"font-weight: 400;\">Jurisdiction of National Financing Reporting Authority<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#national\"><span style=\"font-weight: 400;\">Composition of National Financial Reporting Authority<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#and\"><span style=\"font-weight: 400;\">Powers and Functions of National Financial Reporting Authority<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#by\"><span style=\"font-weight: 400;\">Challenges faced by National Financial Reporting Authority in India<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#takeaway\"><span style=\"font-weight: 400;\">Takeaway<\/span><\/a><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 id=\"is\"><b>What is National Financial Reporting Authority (NFRA)?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The National Financial Reporting Authority (NFRA) is an independent regulator established in India under the Companies Act, 2013. It is responsible for overseeing the quality of financial reporting by listed companies and large unlisted companies. The NFRA aims to promote transparency, accuracy, and reliability in financial reporting, and to ensure that companies follow accounting and auditing standards.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The NFRA is responsible for supervising and monitoring the quality of auditors and their audit work. It has the power to investigate and take disciplinary action against auditors who violate professional standards or engage in malpractices. The NFRA is also empowered to impose penalties, revoke auditors&#8217; licenses, and ban them from practicing for a specified period.<\/span><br \/>\n&lt;h2,id=&#8221;of&#8221;&gt;<b>Objectives of National Financial Reporting Authority<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The primary objective of NFRA is to improve the quality of financial reporting in India. The following are some of the key objectives of NFRA:<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><b>To oversee the Quality of Financial Reporting: <\/b>One of the primary objectives of NFRA is to ensure the quality of financial reporting in India. The authority is responsible for overseeing the <a href=\"https:\/\/legalwindow.in\/roc-company-annual-filing\/\" target=\"_blank\" rel=\"noopener\">compliance of companies<\/a> with accounting standards and auditing standards. This will help to enhance the credibility of financial reporting and improve the accuracy and reliability of financial statements.<\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>To promote Good Governance: <\/b>NFRA aims to promote good governance practices in the financial reporting process. The authority is responsible for ensuring that the financial reporting process is transparent and that companies comply with ethical and governance standards. This will help to prevent financial frauds and mismanagement in companies and protect the interests of investors.<\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>To protect the Interests of Investors: <\/b>Another objective of NFRA is to protect the interests of investors by ensuring that companies provide accurate and reliable financial information. The authority has the power to investigate financial irregularities and impose penalties on companies that violate accounting and auditing standards. This will help to build investor confidence and promote investment in the Indian economy.<\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>To improve the credibility of the Financial Reporting Process: <\/b>NFRA aims to improve the credibility of the financial reporting process by ensuring that companies comply with accounting and auditing standards. This will help to build trust in the financial reporting process and enhance the credibility of financial statements. The authority also has the power to recommend changes to accounting and auditing standards to improve the quality of financial reporting.<\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>To foster a Culture of Compliance: <\/b>NFRA aims to foster a culture of compliance with accounting and auditing standards among companies. The authority is responsible for enforcing the compliance of companies with accounting and auditing standards and imposing penalties on those who violate the standards. This will help to create a culture of accountability and transparency in the financial reporting process.<\/li>\n<\/ul>\n<h2 id=\"in\"><b>Impact of National Financial Reporting Authority in India<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The NFRA was established under Section 132 of the Companies Act, 2013, with the objective of improving the quality of financial reporting in India. The authority has the power to investigate any misconduct by <\/span><a href=\"https:\/\/legalwindow.in\/ca-in-jaipur\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Chartered Accountants<\/span><\/a><span style=\"font-weight: 400;\">, their <\/span><span style=\"font-weight: 400;\">firms<\/span><span style=\"font-weight: 400;\">, or any other professionals associated with the preparation and certification of financial statements. The NFRA can also recommend disciplinary action against erring professionals and their firms.<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><b>Impact on Auditors: <\/b>The NFRA&#8217;s introduction has had a significant impact on auditors in India. The authority has increased the scrutiny of audit reports and the conduct of auditors, leading to a greater sense of accountability and responsibility among them. This has resulted in auditors being more cautious while preparing audit reports and ensuring that they adhere to the highest standards of professionalism and ethics. The NFRA has also led to an increase in the number of investigations against auditors and their firms, leading to greater transparency in the auditing process.<\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Impact on Listed Companies: <\/b>The NFRA&#8217;s mandate covers listed companies, and it has had a significant impact on the financial reporting practices of these entities. The authority has increased the disclosure requirements for listed companies, requiring them to provide more detailed information in their financial statements. This has led to greater transparency in the financial reporting process, providing investors with more accurate and reliable information about the company&#8217;s financial position.<\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Impact on Unlisted Companies: <\/b>The NFRA also has the power to oversee the financial reporting practices of large unlisted companies, which has led to an increase in the quality of financial reporting among these entities. The authority has introduced greater transparency in the financial reporting process, leading to increased trust and confidence among investors and stakeholders.<\/li>\n<\/ul>\n<h2 id=\"authority\"><b>Jurisdiction of National Financing Reporting Authority<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The NFRA&#8217;s jurisdiction extends to certain classes of companies and auditors in India. The entities that fall within the purview of the NFRA are as follows:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Public Interest Entities (PIEs):<\/b><span style=\"font-weight: 400;\"> PIEs are defined as companies that are listed on stock exchanges in India, having a paid-up capital of at least Rs. 500 crores, or having annual turnover of Rs. 1,000 crores or more, or having outstanding loans or borrowings or debentures or deposits exceeding Rs. 500 crores.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Other Companies<\/b><span style=\"font-weight: 400;\">: The NFRA also has jurisdiction over unlisted public companies having a paid-up capital of at least Rs. 500 crores or having annual turnover of Rs. 1,000 crores or more.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Auditors: <\/b><span style=\"font-weight: 400;\">The NFRA has the power to investigate and discipline auditors of the above-mentioned entities. The jurisdiction of NFRA also extends to any other auditor of a company whose case is referred to it by the Ministry of Corporate Affairs (MCA).<\/span><\/li>\n<\/ul>\n<h2 id=\"national\"><b>Composition of National Financial Reporting Authority<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The NFRA is composed of a Chairperson and up to 15 members. The Chairperson must be a person of eminence and having expertise in accountancy, auditing, finance, or law. The other members must have knowledge and experience in the fields of accountancy, auditing, finance, or law, and should have served in senior positions in government, regulatory bodies, or academic institutions.<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><b>Appointment of Chairperson and Members: <\/b>The Chairperson and Members of the NFRA are appointed by the Central Government on the recommendation of a Selection Committee. The Selection Committee is headed by the Cabinet Secretary and includes the Secretary of the Ministry of Corporate Affairs, the Chairperson of the Securities and Exchange Board of India (SEBI), and three experts nominated by the Central Government.<\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Term of Office: <\/b>The Chairperson and Members of the NFRA hold office for a term of three years and are eligible for reappointment for another term of three years. However, the Chairperson and Members cannot hold office beyond the age of 70 years.<\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Independence of NFRA: <\/b>The NFRA is an independent regulator and its decisions are binding on the entities it regulates. The independence of the NFRA is crucial to ensure its effectiveness in fulfilling its mandate. To ensure its independence, the NFRA is not subject to the control or direction of any other regulatory authority or government department.<\/li>\n<\/ul>\n<h2 id=\"and\"><b>Powers and Functions of National Financial Reporting Authority<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The powers and function of NFRA is as follows:<\/span><\/p>\n<p><b>Powers of National Financial Reporting Authority<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The NFRA has been granted extensive regulatory powers to monitor and regulate the audit profession in India. Some of the key regulatory powers of the NFRA are as follows:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Registration of Audit Firms<\/b><span style=\"font-weight: 400;\">: The NFRA has the power to register audit firms that meet the prescribed standards and requirements. This registration is mandatory for audit firms that audit the financial statements of companies listed on Indian stock exchanges.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Investigation and Disciplinary Action<\/b><span style=\"font-weight: 400;\">: The NFRA has the power to investigate complaints of professional misconduct against auditors and audit firms. If a violation is found, the NFRA can take disciplinary action, including imposing fines, suspending or canceling the registration of audit firms, and debarring auditors from practicing.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Review of Audits:<\/b><span style=\"font-weight: 400;\"> The NFRA can review the audit of any company, whether listed or unlisted, if it deems it necessary. The NFRA has the power to ask for any information or document it deems necessary for the review.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Imposing Penalties<\/b><span style=\"font-weight: 400;\">: The NFRA has the power to impose penalties on auditors and audit firms for non-compliance with auditing standards and regulations.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Issuing Directions<\/b><span style=\"font-weight: 400;\">: The NFRA can issue directions to auditors and audit firms to comply with auditing standards and regulations.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Recommending Changes<\/b><span style=\"font-weight: 400;\">: The NFRA can recommend changes to the auditing standards and regulations to the Ministry of Corporate Affairs, which can then be incorporated into the law.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Collaborating with other Regulators<\/b><span style=\"font-weight: 400;\">: The NFRA can collaborate with other regulators, such as the Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI), to ensure compliance with auditing standards and regulations.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Providing Advice<\/b><span style=\"font-weight: 400;\">: The NFRA can provide advice to the government and other stakeholders on matters related to auditing standards and regulations.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Let us now move on discuss various functions that NFRA undertakes.<\/span><\/p>\n<p><b>Functions of National Financial Reporting Authority<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Functions of NFRA are as follows:<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><b>Oversight of Financial Reporting: <\/b><span style=\"font-weight: 400;\">One of the key functions of the NFRA is to oversee the quality and integrity of financial reporting. The authority has the power to investigate any instance of misconduct in financial reporting and take appropriate action against those found to be in violation of the regulations. It also has the power to review and examine the financial statements of companies and to issue recommendations for improvement where necessary.<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Investigation and Enforcement: <\/b><span style=\"font-weight: 400;\">The NFRA has the power to investigate any instance of misconduct by auditors, including cases of non-compliance with auditing standards, unethical behavior, or any other misconduct. The authority has the power to impose fines and penalties on auditors found to be in violation of the regulations. It also has the power to debar auditors from practicing if they are found guilty of misconduct.<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Developing and Promoting Best Practices: <\/b><span style=\"font-weight: 400;\">The NFRA is responsible for developing and promoting best practices in financial reporting. It has the power to issue guidelines and recommendations to companies and auditors on how to improve their financial reporting processes. The authority works to promote transparency and accountability in financial reporting and to ensure that companies are following the best practices.<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Coordinating with Other Regulatory Bodies: <\/b><span style=\"font-weight: 400;\">The NFRA works closely with other regulatory bodies in India, including the <\/span><span style=\"font-weight: 400;\">Securities and Exchange Board of India (SEBI)<\/span><span style=\"font-weight: 400;\"> and the <\/span><span style=\"font-weight: 400;\">Reserve Bank of India (RBI)<\/span><span style=\"font-weight: 400;\">. The authority collaborates with these bodies to ensure that financial reporting standards are consistent across all sectors and that the regulations are being enforced effectively.<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Educating and Informing Stakeholders: <\/b><span style=\"font-weight: 400;\">The NFRA is responsible for educating and informing stakeholders about financial reporting standards and regulations. It provides guidance to companies and auditors on how to comply with the regulations and best practices. The authority also publishes reports and recommendations on financial reporting issues and communicates with stakeholders through various channels, including its website and social media platforms.<\/span><\/li>\n<\/ul>\n<h2 id=\"by\"><b>Challenges faced by National Financial Reporting Authority in India<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The NFRA is tasked with promoting transparency, accountability, and integrity in financial reporting. However, the NFRA has faced several challenges since its inception. These are as follows:<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><b>Lack of Adequate Staff: <\/b>One of the primary challenges faced by the NFRA is the lack of adequate staff. The NFRA is responsible for overseeing the financial reporting of thousands of companies in India. However, the organization currently has only a handful of employees. The lack of staff makes it difficult for the NFRA to conduct audits and investigate financial reporting irregularities in a timely and efficient manner.<\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Limited Resources: <\/b>Another challenge faced by the NFRA is the limited resources available to the organization. The NFRA relies heavily on the <a href=\"https:\/\/www.mca.gov.in\/content\/mca\/global\/en\/home.html\" target=\"_blank\" rel=\"noopener\">Ministry of Corporate Affairs (MCA)<\/a> for funding. However, the MCA has limited resources, and the NFRA has to compete with other organizations for funding. As a result, the NFRA may not have sufficient resources to carry out its mandate effectively.<\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Resistance from Companies: <\/b>The NFRA&#8217;s mandate to oversee the financial reporting of companies has been met with resistance from some companies. Some companies believe that the NFRA&#8217;s oversight may be intrusive and may lead to increased regulatory burden. This resistance can make it difficult for the NFRA to carry out its mandate effectively.<\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Lack of cooperation from other Regulators: <\/b>The NFRA&#8217;s mandate overlaps with that of other regulators, such as the Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI). The NFRA&#8217;s effectiveness is dependent on cooperation from these other regulators. However, there have been instances where these regulators have not provided the necessary cooperation, which can make it difficult for the NFRA to carry out its mandate effectively.<\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Lack of awareness among Stakeholders: <\/b>The NFRA is a relatively new organization, and there is a lack of awareness about its mandate and role among stakeholders. This lack of awareness can lead to misconceptions and misunderstandings about the NFRA&#8217;s role, which can make it difficult for the organization to carry out its mandate effectively.<\/li>\n<\/ul>\n<h2><a href=\"https:\/\/legalwindow.in\/rbi-compliance\/\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-110305 size-full\" title=\"Get your RBI Compliances\" src=\"https:\/\/legalwindow.in\/wp-content\/uploads\/Get-your-RBI-Compliances-starting-from-15000-1-1.png\" alt=\"Get your RBI Compliances\" width=\"1000\" height=\"200\" srcset=\"https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/Get-your-RBI-Compliances-starting-from-15000-1-1.png 1000w, https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/Get-your-RBI-Compliances-starting-from-15000-1-1-600x120.png 600w, https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/Get-your-RBI-Compliances-starting-from-15000-1-1-300x60.png 300w, https:\/\/www.legalwindow.in\/blog\/wp-content\/uploads\/Get-your-RBI-Compliances-starting-from-15000-1-1-768x154.png 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><\/h2>\n<h2 id=\"takeaway\"><b>Takeaway<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">In conclusion, the NFRA is an important regulatory body in India that plays a crucial role in ensuring the integrity of financial reporting by listed and large unlisted public companies. Its powers to investigate and take disciplinary action against auditors who violate professional standards or engage in malpractices are expected to promote transparency and accountability in the corporate sector. The NFRA&#8217;s efforts to improve the quality of financial reporting are likely to enhance investor confidence and contribute to the growth and development of the Indian capital markets.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With its Qualified Experts <\/span><a href=\"https:\/\/legalwindow.in\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Legal Window<\/span><\/a><span style=\"font-weight: 400;\"> may assist you with explaining the Usages and Role of National Financial Reporting Authority in more detail. You can connect with us on <\/span><b>072407-51000 or email <\/b><a href=\"mailto:admin@legalwindow.in\" target=\"_blank\" rel=\"noopener\"><b>admin@legalwindow.in<\/b><\/a><span style=\"font-weight: 400;\">. Our Experts would be Happy to Help.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>National Financial Reporting Authority (NFRA) was constituted by the Government of India in 2018 under the Companies Act, 2013. NFRA is an independent regulatory body responsible for overseeing&hellip;<\/p>\n","protected":false},"author":3,"featured_media":113964,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-113959","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-company"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>National Financial Reporting Authority &#187; Legal Window<\/title>\n<meta name=\"description\" content=\"This article briefly describe the National Financial Reporting Authority, Challenges faced by National Financial Reporting Authority in India.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legalwindow.in\/blog\/national-financial-reporting-authority\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"National Financial Reporting Authority &#187; 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