New Delhi: The Appointments Committee of the Cabinet (ACC) has appointed former Indian Administrative Service (IAS) officer Ajay Bhushan Pandey the chairman of National Financial Reporting Authority (NFRA) for a period of three years.

Pandey is an IAS officer of the 1984 batch and retired last year as the Finance Secretary. Prior to his appointment as the Finance Secretary, he was posted as CEO, Unique Identification Authority of India (UIDAI).

NFRA is the country’s sole independent audit regulator. As per Sub Section (2) of Section 132 of the Companies Act, 2013, the duties of the NFRA are to recommend accounting and auditing policies and standards to be adopted by companies for approval by the Central government, and monitor and enforce compliance with accounting standards and auditing standards.

It also oversees the quality of service of the professions associated with ensuring compliance with such standards and suggests measures for improvement in the quality of service, and performs such other functions and duties as may be necessary or incidental to the aforesaid functions and duties. /BI/