CA P. Venugopala Rao

Professional Profile

With over five decades of experience since joining the firm in 1970, CA Venugopala Rao has gained extensive expertise in audit, accounting, taxation, and financial consultancy. Currently, he serves as the Chairman of Spectrum Group of Companies. His previous leadership roles include serving as an Independent Director & Chairman of the Audit Committee of Odisha Lift Irrigation Corporation and is also Director and Chairman of the Audit Committee at Odisha Hydropower Corporation Ltd., and as Director for organizations such as Rushikulya Gramya Bank (a subsidiary of Andhra Bank), Hirakud Industrial Works Ltd., Konark Jute Ltd., Orichem Ltd., Manas Prawn Farms Pvt. Ltd., Odisha Construction Corporation Ltd., and Odisha State Police Housing and Welfare Corporation Ltd.

Professional Certifications & Specializations

To further strengthen his professional expertise, he has successfully completed specialized certification programs conducted by ICAI, including:

• Forex and Treasury Management (FXTM) – Certified by the Committee on Financial Markets and Investors’ Protection, ICAI.

 Professional Contributions & ICAI Involvement

At the Institute of Chartered Accountants of India (ICAI), he has been actively involved in leadership and advisory roles:

• Former Chairman of the Bhubaneswar Branch of EIRC of ICAI (two terms).
• Co-opted Member of key ICAI committees, including the Public Relations Committee (1991-92), Corporate Laws Committee (1998-99), and the Auditing & Assurance Standards Board.
• Currently serving as a Co-opted Member of the Internal Audit Standards Board (2022-23).

He has chaired several technical sessions at ICAI seminars, presented research papers at professional forums, and contributed articles to newsletters and souvenirs. Additionally, he has been a member of the Financial Reporting Review Group (FRRG) of ICAI.

 Research & Consultancy

CA Venugopala Rao has conducted in-depth studies on financial accountability, including a World Bank/DFID/Govt. of Odisha-funded study on State Financial Accountability Assessment for Urban Local Bodies (ULBs) and State-Owned Enterprises (SOEs).

Community & Leadership Roles

Beyond his professional engagements, he is an active Rotarian for over 30 years, a Multiple Paul Harris Fellow, and has served as Past President of the Andhra Cultural Association, Bhubaneswar, and Bhubaneswar Telugu Samakhya.