The Government has started process to hire people for the National Financial Reporting Authority (NFRA), a senior official said.

The independent watchdog for the auditing profession is looking into alleged accounting issues at IL&FS and Infosys, following directives from the government.

The official said recruitment process has started for the NFRA. Specific details could not be immediately ascertained.

Former IAS officer Rangachari Sridharan is the chairperson of NFRA. The regulator would have 15 members, including the chairperson and three full-time members. Besides, there would be a secretary.

"The National Financial Reporting Authority shall consist of a chairperson, who shall be a person of eminence and having expertise in accountancy, auditing,

finance or law to be appointed by the central government and such other members not exceeding 15 consisting of part-time and full-time members as may be prescribed," as per Section 132 of the Companies Act. #casansaar (Source - NFRA)