Appointment brings 35+ years of global audit, accounting and risk expertise to Leverage Edu’s Board, strengthens Governance as Co starts preparing for IPO
New Delhi, India – Leverage Edu, an AI-native global talent mobility & upskilling platform, today announced the appointment of Prabhakar Kalavacherla, formerly of KPMG and the International Accounting Standards Board (IASB), as an Independent Director on its Board & Chair of its Audit Committee.
As Chair of Audit Committee, Kalavacherla will oversee the integrity of financial reporting, internal financial controls, statutory and internal audit, enterprise risk management, related-party transactions and regulatory compliance.
Kalavacherla brings over 35 years of global experience across audit, risk management, financial reporting and governance. He is the first professional from India to have served on the IASB, where he played a role in shaping global accounting standards including IFRS 15 and standards governing financial instruments, leases and consolidation. He spent 25+ years with KPMG US across two stints: as an Audit Partner leading multinational engagements in his first stint, and on his return, going on to serve as U.S. National Partner in Charge of Risk Management, Audit and Independence, and Regional Risk Management Partner for the Americas. He is a Chartered Accountant and a Certified Public Accountant, and holds a Master’s degree in Accounting from California State University.
Speaking on the appointment, Akshay Chaturvedi, Founder and CEO, Leverage Edu, said, “As Leverage Edu grows, the discipline around how we report, how we account for risk, and how rigorously we test our own controls has to grow with it. Mr. Kalavacherla brings the kind of independent, technical scrutiny that strengthens our financial reporting and risk oversight as the company scales.”
Prabhakar Kalavacherla, Independent Director & Chair of Audit Committee, Leverage Edu, added, “Leverage Edu operates across multiple markets and regulatory environments, making strong financial reporting, internal controls and risk management particularly important as the company scales. I look forward to bringing an independent perspective and helping strengthen the governance frameworks that support the company’s next phase of growth, while mentoring Akshay & the team as they scale this wonderful enterprise.”
The appointment is part of a wider governance build-out at Leverage Edu over the past year, which has included the constitution of a Nomination & Remuneration Committee comprising Independent Director Karan Khemka and two other Non-Executive Investor Directors. Speaking on the same, Akshay Chaturvedi added, “We are actively trying to learn and put the right governance and control systems in place, and have also started engaging with another Big Four firm to bolster our internal audit function and the processes around it.”
The strengthening of the Board comes as Leverage Edu enters its next phase of institutional growth, with the company building the reporting discipline, board composition and control environment expected of a company at its scale, ahead of a potential public listing.
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(PTI News)
