Ajay Bhushan Pandey Is The Next NFRA Chief: Report

The government has appointed former finance secretary Ajay Bhushan Pandey as chairman of the National Financial Reporting Authority (NFRA) for three years.

Mr Pandey, a 1984-batch Maharashtra cadre IAS officer, retired as revenue secretary last February.

The Appointments Committee of the Cabinet (ACC) has approved the appointment of former revenue secretary Mr ABP Pandey as the chairperson of NFRA for three years from the date of assumption of charge or till the incumbent attains the age of 65 years, sources said.

Before becoming revenue secretary, he was chief executive of the Unique Identification Authority of India (UIDAI).

Post-retirement, Mr Pandey headed a committee to revisit the criteria for determining the economically weaker sections to provide them reservation.

Other panel members were the secretary of the Indian Council of Social Science Research (ICSSR) V K Malhotra and the principal economic advisor to the government Sanjeev Sanyal.

The government has also appointed former Deputy Comptroller and Auditor General Praveen Kumar Tiwari, a retired Indian Audit and Accounts Service officer of 1985 batch, and Smita Jhingran (IRS 1986), Principal Director General at Central Board of Direct Taxes, as full-time members of NFRA.

The NFRA acts as an independent regulator for the auditing profession. The body has the power to review the financial statement of companies and seek explanations, and probe irregularities regarding accounting and auditing issues.

The setting up of the NFRA, envisaged under the Companies Act, 2013, was approved by the Cabinet in May 2018.