DV Subba Rao joins PFC as Director, Internal Audit

New Delhi:  Power Finance Corporation (PFC), a  Power Sector Maharatna, has  strengthened  its Internal Audit Function with appointment of  DV Subba  Rao, as head of  Internal Audit for three years, with effect from May 09.  Subba Rao,   an experienced  finance and audit  professional with  more than 20 years of  audit and  supervision  function according to a company press note.

This is in  alignment with global best practices in corporate governance and in recognition of the pivotal role that internal audit plays as the third line of defence in risk management, PFC has further fortified its internal audit function through a key leadership appointment.

The Board of Directors  approved the elevation of the internal audit function to be headed by an executive one level below the Board,  earlier being headed  by an executive two level below the Board. This strategic move reflects PFC’s continued commitment to maintaining the highest standards of transparency, accountability, and oversight.

PFC remains committed to aligning its internal audit practices with the evolving expectations of regulators, stakeholders, and investors, adds the  press note.