New Delhi, Nov 18 The National Financial Reporting Authority (NFRA), the independent regulator for Audit and Accounting matters, on Tuesday launched another regulatory tool, ‘Webinar Series 2025-26’.
The initiative supports enhancing the overall quality of the financial reporting ecosystem in India, comparable to global benchmarks.
This tool of webinars is in continuation of NFRA’s larger project to connect with and support the key stakeholders in the financial reporting supply chain by way of various types of outreach programmes, such as audit workshops, Audit Practice Toolkits, and Auditor-Audit Committee Interaction series.
The launch of 'Webinar Series 2025-26' will be formally inaugurated by Chairperson, NFRA, Nitin Gupta, on November 26 on the topic ‘Impairment of Assets under Ind AS 36’.
The Webinar Series 2025-26 will cover complex accounting areas that involve significant management estimates and judgments, therefore, requiring elevated professional scepticism on the part of the auditors.
Accordingly, the Webinar Series is structured suitably to cover both Accounting and Auditing considerations and thereby support both the Preparers and Auditors, especially the small and medium practitioners.
Accounting aspects will be dealt with by relevant professionals of the subject matter, such as valuation experts, risk management experts.
Over the next four months, NFRA plans to conduct webinars in other areas of critical Accounting and Auditing matters, such as revenue recognition over a period of time, expected credit loss, etc.
Auditors, Accountants and Independent Directors are invited to support the deliberations in these webinars.
Meanwhile, the Income Tax Department will notify new income‑tax return (ITR) forms and related rules under the streamlined Income Tax Act, 2025, by January, and the updated regulations will be effective from April 1, 2026.
The updated regulations will mark the transition from the nearly six-decade-old Income Tax Act of 1961, multiple reports cited Central Board of Direct Taxes chairman Ravi Agrawal as saying.
Agrawal said the department is designing the new forms, keeping them simple and easy to comply with and adapt to.
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