The National Financial Reporting Authority (NFRA) has officially invited applications for the positions of Chairperson and Full-Time Members. The work tenure for these roles is three years, with an option for reappointment, and is coupled with an attractive monthly salary of over ₹5 lakh.
The NFRA is a regulatory body established under Section 132 of the Companies Act, 2013 to oversee and enforce accounting and auditing standards in India. It functions as an independent authority ensuring transparency and accountability in the financial reporting framework.
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The appointed members shall undertake duties of conducting investigations into professional misconduct by auditors and taking disciplinary action when necessary. Additionally, they work on establishing best practices for corporate financial transparency and integrity, contributing to a more robust and accountable financial ecosystem in compliance with the Indian Accounting Standards.
As per the latest NFRA (Appointment and Terms) Rules, 2024, the Chairperson is entitled to a salary of ₹5,62,500 per month (without house and car) or may opt for the pay and allowances as per a Secretary to the Government of India.
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Full-Time Members receive a salary of ₹5,00,000 per month (without house and car) or can choose to draw pay as per an Additional Secretary to the Government of India. Those opting for government pay scales are also eligible for house rent allowance and an official staff car. However, individuals receiving a government pension will have their salary adjusted accordingly, ensuring compliance with pension-related regulations.
To maintain the authority’s independence, applicants must have no conflict of interest and should not have any financial or professional ties that could compromise their regulatory duties. Additionally, they cannot be associated with any audit firm during their tenure and for two years post-tenure, ensuring unbiased oversight of auditing and accounting standards.
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Interested candidates must follow this step-by-step application process:
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