Section 4(6) in National Financial Reporting Authority (Manner of Appointment and other Terms and Conditions of Service of Chairperson and Members) Rules, 2018
(6)The following persons shall be appointed as part time members of the Authority namely:-(i)one member to represent the Ministry of Corporate Affairs, who shall be an officer not below the rank of Joint Secretary, ex-officio;(ii)one member to represent the Comptroller and Auditor General of India, who shall be an officer not below the rank of Accountant General or Principal Director, ex-officio;(iii)one member to represent the Reserve Bank of India, who shall be an officer not below the rank of Executive Director, ex-officio;(iv)one member to represent the Securities and Exchange Board of India, who shall be an officer not below the rank of Executive Director, ex-officio;(v)President, Institute of Chartered Accountants of India, ex-officio;(vi)Chairperson, Accounting Standards Board, Institute of Chartered Accountants of India, ex-officio;(vii)Chairperson, Auditing and Assurance Standards Board, Institute of Chartered Accountants of India, ex-officio; and(viii)two experts from the field of accountancy, auditing, finance or law.
