New Executive Body of full time members in NFRA also assumes charge

Shri Nitin Gupta, IRS (IT:86) (Retd.) has assumed the charge of Chairperson, National Financial Reporting Authority (NFRA) on 23^rd July 2025. Sh. Nitin Gupta earlier served as Chairman, Central Board of Direct Taxes (CBDT) from June 2022 to June 2024. His professional experience spans across key assignments in the Income Tax Department and Ministry of Finance, where he led pioneering initiatives in automation, faceless assessments, and taxpayer services. As Chairman CBDT, he was instrumental in integrating advanced technologies such as artificial intelligence and big data analytics to improve compliance, transparency, and ease of doing business. Under his leadership, the direct tax-to-GDP ratio reached record levels, and tax revenues showed consistent year-on-year growth, reflecting effective administration and better taxpayer outreach.

Ms Smita Jhingran, IRS (IT:86) (Retd), earlier Full Time Member, NFRA, Shri P Daniel, IDES (1989) (Retd), former Secretary, Central Vigilance Commission and Shri Sushil Kumar Jaiswal, IA&AS (1993) (Retd), former Director General of Audit (Central Receipt) have assumed the charge of the post of Full-Time Member, NFRA as well.

Ms. Smita Jhingran, during her first tenure at NFRA, played a key role in aligning India’s auditing and accounting standards with global best practices and strengthening financial reporting and corporate governance. Prior to joining NFRA as Full Time Member,

NFRA, she served as Secretary, Competition Commission of India (CCI), and held senior positions in the Income Tax Department

Prior to joining NFRA, Shri P. Daniel, in his tenure as Secretary, CVC, played a pivotal role in advancing the national agenda on vigilance awareness, preventive vigilance, and anti- corruption initiatives across PSUs, ministries, and autonomous bodies. He focused on systemic improvements, enhancing transparency, and promoting a shift from punitive to preventive vigilance. Prior to this, he held senior leadership roles in the Directorate General of Defence Estates (DGDE), including Additional Director General (Western Command) and Deputy Director General (Lands), where he led major reforms in land record digitization and strengthened governance of defence land assets.

Shri Sushil Kumar Jaiswal, IA&AS (1993) (Retd), brings extensive experience in auditing and accounting. As Director General of Audit (Central Receipts), he oversaw audits of central revenue and tax departments and served as appellate authority for audit matters. He also contributed to strengthening audit methodologies and governance frameworks. Internationally, he led internal audits in UN Peacekeeping Operations (Middle East and West Africa) and supervised external audits of UN agencies including WFP, UNOPS, FAO, ITC, and UNCC.

Secretary, Ministry of Corporate Affairs administered the Oaths of Office and Secrecy to the Chairperson and the Full-Time Members at a ceremony held in the Ministry on 23.07.2025.

Appointment of NFRA Chairperson and full-time members strengthens regulatory oversight of financial reporting and corporate governance. Appointment of the Chairperson and Full-Time Members reconstitutes NFRA's executive leadership: Shri Nitin Gupta assumes charge as Chairperson with a background in technology-driven tax administration and compliance initiatives, while three full-time members with senior experience in audit, vigilance, and regulatory roles have taken office. The appointments aim to strengthen financial reporting oversight, enhance audit quality and alignment with global standards, and were formalized by administration of the Oath of Office and Secrecy by the ministry's Secretary.