Govt appoints Sanjay Kallapur and R. Narayanaswamy as part-time members of NFRA
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The appointment is valid for a period of three years.
A notification issued by the Ministry of Corporate Affairs (MCA) on Wednesday stated that " In exercise of powers conferred under sub-Rule (6) of Rule 4 of the National Financial Reporting Authority (Manner of Appointment and other terms and conditions of service of Chairperson and Members) Rules, 2018, the Central Government hereby appoints Sanjay Kallapur and R. Narayanaswamy as Part-time Members in National Financial Reporting Authority for a period of 3 years,".
Sanjay Kallapur is Professor of Accounting at Indian School of Business Hyderabad. As per his profile on the Website ISB, Kallapur also served on the Board of IDBI Bank in risk management and audit committees. He previously served on the Board of the Life Insurance Corporation of India where he was on the audit and risk management committees.
Kallapur was an International Council Member-at-large of the American Accounting Association from 2018 to 2021. He is a member of the Corporate Reporting Consortium of the Confederation of Indian Industry (CII).
Professor R. Narayanaswamy is Ex-Faculty of the Finance & Accounting area at Indian Institute of Management Bangalore (IIMB). He was Professor of Finance at the IIM Bangalore between 1986 and 2021.
Professor R. Narayanaswamy is Ex-Faculty of the Finance & Accounting area at Indian Institute of Management Bangalore (IIMB).
As per his profile on the website of IIM Bangalore, Narayanaswamy worked in Steel Authority of India from 1980 to 1984. He joined the Institute of Chartered Accountants of India in 1984.
He served as an independent director and chairman of the audit committee of Indian Railway Finance Corporation from 2005 to 2011 and independent director and chairman of the audit committee of Bank of Baroda from 2014 to 2017.
Narayanaswamy has been part of the Accounting Standards Board (2001-02 and 2009-10), the Auditing and Assurance Standards Board (2008-09 and 2010-11), the Committee on Accounting Standards for Local Bodies of Institute of Chartered Accountants of India (2014-15) and the National Group of the Accounting Standards Board (2011-12). He also served as a Jury member for the ICAI Awards for Excellence in Financial Reporting in 2013-14.
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