Rangachari Sridharan Appointed Chairperson Of NFRA

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The Centre has appointed former IAS officer Rangachari Sridharan as chairperson of the National Financial Reporting Authority (NFRA), an entity which will function as an independent regulator for the auditing profession.

Sridharan is a retired 1983 batch IAS officer of the Karnataka cadre. The appointments committee of the cabinet also approved the appointment of retired Indian Audit and Accounts Service officer of the 1980 batch, Prasenjit Mukherjee as a full-time member in NFRA. 

National Financial Reporting Authority (NFRA) is a body proposed in Companies Act 2013 for the establishment and enforcement of accounting and auditing standards and oversight of the work of auditors.The concept and composition of the National Financial Reporting Authority (NFRA) was originally introduced by the Companies Act, 2013. The Union Cabinet on 1st March, 2018 approved the proposal for establishing the National Financial Reporting Authority (NFRA). The establishment of NFRA as an independent regulator for the auditing profession will improve the transparency and reliability of financial statements and information presented by listed companies and large unlisted companies in India.