Regulator’s move to curb frauds
Markets regulator SEBI is looking to appoint auditors for conducting forensic audits of financial statements of listed companies as part of efforts to curb frauds.
In recent months, SEBI has ordered forensic audit of certain companies.
The Securities and Exchange Board of India (SEBI) has invited applications from eligible chartered accountant firms “for empanelment to take up assignments relating to forensic audit of financial statements of listed companies.”
“Application shall not be considered where disciplinary action or proceedings have been initiated against the applicant, its partners or directors, by any regulatory body or court of law,” SEBI noted.
In October 2020, SEBI asked listed firms to disclose about the initiation of forensic audit to stock exchanges to address gaps in the availability of information.
Source: Read Full Article