Ajay Bhushan Pandey appointed as chairman of the NFRA
Highlights:
- Ajay Bhushan Pandey has been appointed as the chairman of the National Financial Reporting Authority (NFRA) for a period of 3 years.
- Pandey, a 1984-batch Maharashtra cadre IAS officer, retired as revenue secretary in February last year.
- The Appointments Committee of the Cabinet (ACC) has approved the appointment of former revenue secretary ABP Pandey as the chairperson of NFRA for a period of three years from the date of assumption of charge or till the incumbent attains the age of 65 years.
- The NFRA acts as an independent regulator for the auditing profession.
- The body has powers to review the financial statement of companies, can seek explanations and probe irregularities with respect to accounting and auditing issues.
- The setting up of the NFRA, envisaged under the Companies Act, 2013, was approved by the Cabinet in May 2018.
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