The post of NFRA chairperson fell vacant after the three year term of its erstwhile chief Ajay Bhushan Pandey came to an end on March 31, 2025.
The government has entrusted Ravneet Kaur, chairperson of the Competition Commission of India (CCI), with additional charge as chairperson of the National Financial Reporting Authority (NFRA) for a period of three months starting April 1, 2025.
While serving as the fifth chairperson of the CCI, Kaur has been dealing with anticompetitive conduct in the digital economy and across sectors such as pharmaceuticals, automobiles, media and entertainment, and aviation. Her role as NFRA chair will focus on regulating audit firms that audit listed companies.
Kaur’s appointment also comes at a time when NFRA is facing legal scrutiny over the separation of its review and disciplinary functions. The Supreme Court, through an interim order, has allowed NFRA to continue its investigations in cases where audit quality review reports have not been prepared and final orders are pending.
A post-graduate in economics and public economic management from the University of Birmingham, United Kingdom, Kaur has served as joint secretary in the Department for Promotion of Industry and Internal Trade under the Ministry of Commerce and Industry. Prior to that, she was chairperson and managing director (CMD) of India Tourism Development Corporation (ITDC).
She has also worked as principal secretary in the departments of higher education and languages, cabinet, coordination and parliamentary affairs with the Government of Punjab.
Earlier in her career, Kaur served in the Department of Financial Services, Department of Economic Affairs and Department of Disinvestment.
She has held several senior positions, including vice-chairperson and managing director of Punjab Communications Limited. She was also a consultant with the International Food Policy Research Institute in Washington D C, and spent a year as a Hubert H Humphrey Fellow at Cornell University in the United States.
Source: Business Standard
