Appointment of auditor empowers the board to order inspections of SRO accounts and recover audit expenses. The Board may appoint a qualified auditor to inspect an SRO's books of account and affairs with the same powers as the inspecting authority, and the SRO's ... Summary
Securities and Exchange Board of India (Self Regulatory Organisations) Regulations, 2004
Appointment of auditor empowers the board to order inspections of SRO accounts and recover audit expenses.
The Board may appoint a qualified auditor to inspect an SRO's books of account and affairs with the same powers as the inspecting authority, and the SRO's inspection-related obligations apply to such audits; the Board may recover from the SRO the expenses incurred for the audit or inspection, including auditors' fees.
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