The National Financial Reporting Authority (NFRA) has released a fresh update. This update concerns audit firms that missed filing Form NFRA-2 for 2024-25. The revised list reflects filings recorded up to 15 August 2026.
This development matters to every audit firm covered under NFRA rules. Therefore, understanding the update, its background, and its next steps is essential.
What Is Form NFRA-2?
Form NFRA-2 is an annual return. Auditors of certain companies must file it with NFRA every year. The form reports an auditor’s practice details and their compliance with NFRA regulations.
Specifically, this requirement applies to auditors of listed companies. It also applies to large unlisted public companies. These are firms with paid-up capital of ₹500 crore or more. Alternatively, firms with annual turnover of ₹1,000 crore or more also qualify. Additionally, companies in banking, insurance, or electricity generation fall under this rule.
The form itself captures several details. These include the auditor’s identity and their client list. Fee information and disciplinary history are also part of the disclosure.
Why NFRA Published This Update
Under Rule 5 of the NFRA Rules, 2018, filing NFRA-2 annually is mandatory. Auditors covered by Rule 3 must submit it by 30 November each year. For the 2024-25 reporting period, the original due date was 30 November 2025.
However, NFRA extended the filing window beyond that date. As a result, the portal continues to accept submissions even now. This extension gives firms extra time to complete pending returns.
Despite this flexibility, many audit firms still have not filed. Consequently, NFRA periodically publishes updated lists to track compliance. The latest version, dated 15 August 2026, is the newest snapshot available.
What the Updated List Covers
The 2024-25 reporting period covers a specific window. It includes audit reports signed between 1 April 2024 and 31 March 2025. Firms handling audits within this period fall under the filing obligation.
Importantly, the updated publication has two distinct parts. First, it names firms that have not filed NFRA-2 at all. Second, it lists firms whose filings remain incomplete.
This list builds upon earlier versions. NFRA had previously published similar lists in May 2025 and again in April 2026. Each update reflects the compliance position as of that specific date.
How This List Has Evolved
The tracking process has continued for over a year now. An earlier list, dated 30 April 2025, first flagged non-filers for this period. Later, another list dated 30 April 2026 identified 1,314 audit firms still missing.
Meanwhile, the number of firms on these lists has fluctuated over time. This happens as firms file their returns and drop off subsequent lists. Nevertheless, new gaps in incomplete filings also continue to surface.
The August 2026 update, therefore, represents the most current compliance snapshot. Firms should check this list carefully to confirm their own status.
What Affected Firms Should Do
If your firm appears on the list, prompt action is necessary. First, verify whether your NFRA-2 filing is genuinely pending or incomplete. Then, complete or correct the filing through the NFRA portal without delay.
However, some firms may have already filed correctly despite appearing on the list. In such cases, NFRA has provided a clear process. These firms should email NFRA at the designated helpdesk address to report the discrepancy.
Similarly, firms facing technical difficulties during filing can use the same channel. NFRA has confirmed it will address such technical issues promptly.
Why Compliance Matters
Timely NFRA-2 filing is not just a procedural formality. Instead, it forms part of an auditor’s broader regulatory obligations. Non-compliance can attract scrutiny or further regulatory action over time.
Furthermore, being listed publicly as a non-filer can affect a firm’s reputation. Clients and stakeholders often view regulatory compliance as a trust indicator. Consequently, addressing this promptly protects both compliance standing and professional credibility.
Key Takeaways
Audit firms should treat this update as an important compliance reminder. The filing window for 2024-25 remains open despite the passed due date. Firms named in the list should verify their status immediately.
If already compliant, firms must notify NFRA to correct the record. Otherwise, pending filings should be completed as soon as possible. Staying proactive now can prevent complications during future compliance checks.
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