Indian government appoints Ravneet Kaur as interim NFRA chair to regulate audit firms for listed companies

From Yahoo Finance: 2025-04-07 06:36:00

The Indian government appoints Ravneet Kaur as interim chair of NFRA for three months, starting April 1, 2025, succeeding Ajay Bhushan Pandey. Kaur, current CCI chair, will focus on regulating audit firms for listed companies. NFRA faces legal challenges over separation of review and disciplinary functions but can continue investigations per Supreme Court order.

Kaur’s extensive background includes roles in various government departments and international experience in Washington DC and Cornell University. The appointment comes amidst concerns raised by Big Five audit firms in India about potential conflicts with Companies Act 2013. Firms question NFRA’s ability to maintain neutrality due to combined review and disciplinary functions.

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