PFC appoints D V Subba Rao as Head of Internal Audit

State-owned Power Finance Corporation (PFC) on Tuesday announced the appointment of its Executive Director, D V Subba Rao, as Head of Internal Audit.

Rao's appointment is effective for three years or until his superannuation, according to a company statement.

Underscoring the critical importance of the function within the organisation, the Board of Directors has approved the elevation of the internal audit function to be headed by an executive one level below the Board, which was earlier being headed by an executive two level below the Board, the company explained.

Accordingly, Rao has been appointed as Head of Internal Audit, effective May 9, 2025, for a period of three years or until the date of his superannuation, whichever is earlier.

Rao is a seasoned finance professional with over two decades of experience across multiple domains within the financial sector.

The appointment of an Executive Director-level officer to lead the internal audit function signifies a deliberate and proactive step by the Board to enhance the effectiveness of internal controls, risk management, and governance processes, the statement said.

PFC remains committed to aligning its internal audit practices with the evolving expectations of regulators, stakeholders, and investors, while continuing to play a vital role in financing the power and infrastructure sectors of the country, it stated.

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