Q10 · UPPSC current affairs · 5 September 2026 · PIB · NFRA Advisory Committee on Audit Quality Assurance and Technology

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What is the primary objective of Audit Quality Assurance?

A Systematic evaluation of statutory audit procedures to ensure compliance with auditing standards and independence

B Conducting mandatory environmental impact assessments for corporate infrastructure projects

C Auditing the physical inventory of agricultural produce stored in government warehouses

D Providing direct financial subsidies to private auditing firms meeting corporate social responsibility quotas

Correct answer: (a) Systematic evaluation of statutory audit procedures to ensure compliance with auditing standards and independence

Explanation

Audit Quality Assurance involves the systematic evaluation of statutory audit procedures to ensure adherence to auditing standards and auditor independence. The remaining options describe unrelated regulatory or developmental functions.

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Key facts

Askable facts for NFRA Advisory Committee on Audit Quality Assurance and Technology

Parent Statute

Section 132, Companies Act, 2013

Why it mattersEstablishes statutory backing and enforcement authority of NFRA.
Enabling Rules

Rules 15 & 16, NFRA Rules, 2018

Why it mattersEmpowers NFRA to constitute committees and task forces for performing its statutory functions.

Prefer durable names, Acts and provisions — not short-lived counts.

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